ACME Solar Holdings Ltd

ACME Solar Holdings Limited has announced a scheme of amalgamation involving its subsidiaries, ACME Pokhran Solar Private Limited, ACME Sikar Solar Private Limited, and ACME Eco Clean Energy Private Limited, with ACME Solar Holdings Limited itself. This consolidation aims to streamline the company's legal structure, reduce administrative costs, and improve operational efficiencies by unifying renewable energy assets and eliminating inter-company transactions. The amalgamation will not involve any cash or share consideration, as the transferor companies are wholly-owned subsidiaries of the transferee company, effectively canceling existing investments and simplifying the group's overall structure to enhance financial flexibility and strengthen its position in the renewable energy sector.

ACME Solar Holdings Limited announced the incorporation of four wholly owned subsidiaries: ACME Greentech Twenty Five Private Limited, ACME Greentech Twenty Six Private Limited, ACME Greentech Twenty Seven Private Limited, and ACME Greentech Twenty Eight Private Limited, all incorporated on September 15, 2026, in Gurugram, Haryana, India. The subsidiaries were formed with an objective to undertake businesses relating to development, establishment and operation of power generation and renewable energy projects, and were capitalized with a total cash consideration of Rs 100,000, representing 100% subscription to their initial paid-up share capital.

ACME Solar Holdings Limited announced that its Operational Committee approved the incorporation of a wholly-owned subsidiary, ACME Renewables FZCO, in the United Arab Emirates, with an initial capital of AED 10,000 (or its Indian rupee equivalent) to be infused in tranches, according to a regulatory filing. The subsidiary will operate in the renewable energy systems, components, and storage products supply chain management industry and will support ACME Solar Holdings Limited’s renewable energy business through procurement, supply chain management, and hedging of raw materials.

ACME Solar Holdings Limited appointed M/s. BSR & Co. LLP as Joint Statutory Auditors, replacing M/s Walker Chandiok & Co. LLP, for a five-year term subject to shareholder approval at the 11th Annual General Meeting. The company also seeks shareholder approval to alter its Memorandum of Association to include businesses related to electricity, power, energy, and data centers, and recommended the re-appointment of Mr. Nikhil Dhingra as a director liable to retire by rotation. The 11th Annual General Meeting is scheduled for September 29, 2026, with remote e-voting available from September 26 to September 28, 2026.

ACME Solar Holdings Limited appointed M/s. BSR & Co. LLP as Joint Statutory Auditors, replacing M/s Walker Chandiok & Co. LLP, for a five-year term subject to shareholder approval at the 11th Annual General Meeting. The company also seeks shareholder approval to alter its Memorandum of Association to include businesses related to electricity, power, energy, and data centers, and recommended the re-appointment of Mr. Nikhil Dhingra as a director, alongside approving the notice for the 11th AGM to be held on September 29, 2026.

ACME Solar Holdings Ltd. is up 1.98% to Rs 393.95, after declining 1.90% over the last week. ACME Solar Holdings Limited announced it has received a Letter of Award (LOA) from Solar Energy Corporation of India Limited (SECI) for a 300 MW assured peak power project, secured under SECI’s 6,000 MWh (1,500 MW × 4 Hours) Assured Peak Power Tender (FDRE-IX). The project, awarded domestically, has a size of 300 MW with a tariff of Rs 6.00 per kWh for a 25-year tenure, with scheduled commencement of supply 18 months from the date of Power Purchase Agreement (PPA) signing. ACME Solar Holdings Ltd. shares saw a trading volume of 9.45 lakh today, a decrease of 79.19% compared to the average volume over the last one week. ACME Solar Holdings Ltd. surged by 37.60% year-over-year, outperforming the NIFTY50 index which experienced a 1.67% loss.

ACME Solar Holdings Ltd. remains unchanged at Rs 398.75, with the stock having risen 4.82% over the last week. ACME Solar Holdings Limited announced that its wholly-owned subsidiary, ACME Marigold Urja Private Limited, has executed a Power Purchase Agreement (PPA) with Northeast Frontier Railway (NFR) to establish a 130 MW Round the clock (RTC) renewable energy power project, as disclosed on August 26, 2026. The project, with a size of 130 MW and a tariff of Rs 4.35 per kWh, is scheduled to commence supply on February 25, 2029, with a project tenure of 25 years. Trading volume reached 2.39 lakh shares today, a decrease of 88.72% compared to the average volume over the last one week. ACME Solar Holdings Ltd soared by 39.57% year-over-year, outperforming the 2.54% loss recorded by the NIFTY50 index.

ACME Solar Holdings Limited informed the BSE Limited and National Stock Exchange of India Ltd. that there was no deviation or variation in the utilization of the Rs 2800 crore raised through a Qualified Institutions Placement on June 4, 2026, according to a filing on July 29, 2026.

Acme has deployed a significant portion of the Rs 1,725.09 crore raised through a Qualified Institutional Placement, primarily placing Rs 1,725.09 crore in fixed deposits with YES Bank, AXIS Bank, IndusInd Bank, and CSB Bank. An additional Rs 660 crore has been invested in three wholly-owned subsidiaries: Acme Sigma Urja Pvt. Ltd., Acme Marigold Urja Pvt Ltd., and Acme Greentech Fourth Pvt Ltd. The report, which tracks the utilization of funds, notes that the planned completion dates for debt repayment and general corporate purposes are March 31, 2028, and implementation remains ongoing. The Monitoring Agency compiling the report emphasizes that it relied on information provided by Acme and third-party sources and does not assume legal liability or fiduciary duty, also disclosing potential commercial relationships with the company.

Acme Solar Holdings Limited reported total revenue of Rs 954 crore for the quarter ended June 30, 2026, a 63.3% increase year-on-year, alongside an Rs 831 crore EBITDA, up 56.5% year-on-year, and a profit after tax of Rs 235 crore, up 79.9% year-on-year. The company achieved a quarterly capacity utilization factor of 30.9%, commissioned approximately 2.3 GWh of battery energy storage systems (BESS), bringing the total commissioned BESS capacity to approximately 3.62 GWh, and signed power purchase agreements (PPAs) for 600 MW of firm and dispatchable renewable energy/hybrid projects with SECI, increasing the total UC PPA signed capacity to 3,880 MW.