India's Acme Solar rises after QIP launch

ACME Solar Holdings

02/06/2026 08:02

** Shares of Acme Solar Holdings ACMO.NS rise 7.5% to 330.25 rupees
** ACME Solar Holdings has launched a Qualified Institutional Placement (QIP) on Monday, with a floor price of 294.13 rupees per share 
** ACMO aims to raise up to 28 billion rupees through the QIP, CNBC-TV 18 reported, citing sources, and the term sheet
** The proceeds from the fundraise will be utilised towards debt repayment and general corporate purposes, the report added
** More than 8.9 million shares traded, about 5x more than their 30-day avg
** Seven analysts have a "Strong Buy" rating while four have a "Buy" rating; median PT is 343 rupees - data compiled by LSEG
** Stock up ~39%, YTD 

(Reporting by Urvi Dugar in Bengaluru)
((UrviManoj.Dugar@thomsonreuters.com;))