ACME Solar Holdings Limited has submitted its statement on the deviation or variation in the utilization of proceeds from its Qualified Institutions Placement. For the quarter ended June 30, 2026, the company reported no deviation or variation in the utilization of funds raised. This confirms that the funds are being used as per the objects stated in the original placement document.
ACME Solar Holdings Limited Reports on Fund Utilization
ACME Solar Holdings Limited has officially released its statement regarding the utilization of funds raised through a Qualified Institutions Placement (QIP). This report, submitted in accordance with regulatory requirements, covers the financial quarter ending June 30, 2026.
No Deviation in Fund Utilization
The company has confirmed that there has been no deviation or variation in the utilization of the proceeds raised via the Qualified Institutions Placement. This means that the funds procured through this mode of fundraising are being applied strictly towards the objectives and purposes originally outlined in the placement document. This clarity assures stakeholders that the company is adhering to its financial commitments and strategic plans.
QIP Details
The Qualified Institutions Placement was conducted on June 04, 2026, raising an amount of approximately INR 2800 Crores. The monitoring agency for these funds is CARE Ratings Limited. The company has explicitly stated ‘No’ to any deviation or variation in the use of these raised funds.
Source: BSE
