ACME IPO : Plans to raise Rs 1000 crore

by khalid on 19/10/2009 · 0 comments


ACME is an alternate energy provider company and focusing on solar energy in a big way. The company plans to disinvest its stake by 5 to 10% and raise Rs 1000 crore through an IPO within the end of this fiscal means March 2010.

ACME has an agreement with eSolar of California to develop solar thermal units in India. Once it starts, the manufacturing cost of solar energy will reduce significantly, it is a whopping Rs 13 per unit at present.

The company has a unit for 12 MW at Bikaner in Rajasthan and is commencing a project of 150 MW distributed between Bikaner, Jodhpur and Jaisalmer. The company also has units in Maharashtra and Madhya Pradesh.

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