ACME Solar Holdings Limited has submitted its Monitoring Agency Report for the quarter ended June 30, 2026. The report, issued by CARE Ratings Limited, details the utilization of proceeds from the Qualified Institutions Placement (QIP). The company confirms that proceeds have been utilized as per the objects of the issue, with unutilized funds parked in term deposits with scheduled commercial banks and a monitoring account. No material deviations were observed.
ACME Solar Submits Monitoring Agency Report
ACME Solar Holdings Limited has officially submitted its Monitoring Agency Report for the first quarter of the fiscal year 2027, ending June 30, 2026. This report is a regulatory requirement, filed in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
Key Findings from the Report
The report, prepared by CARE Ratings Limited (the Monitoring Agency), provides an objective overview of the utilization of funds raised through the Qualified Institutions Placement (QIP). The total issue size was Rs. 2,800 crore.
Utilization of Proceeds
As per the report, the proceeds from the QIP have been partially utilized in line with the objects disclosed in the offer document. The unutilized amount has been appropriately parked as term deposits with scheduled commercial banks and within the company’s monitoring account.
No Deviations Noted
The Monitoring Agency has confirmed that the utilization of funds aligns with the disclosures made in the offer document. No material deviations were observed during the quarter ended June 30, 2026. Furthermore, there were no significant changes in the means of finance for the disclosed objects, and all necessary government or statutory approvals related to the objects have been obtained.
Objects of the Issue and Cost Breakdown
The report details the cost of objects as follows:
- Repayment / Pre-payment of Borrowings: Rs. 2,100.00 crore
- General Corporate Purposes: Rs. 662.90 crore
- Issue Expenses: Rs. 37.10 crore
The total allocated amount is Rs. 2,800.00 crore. The general corporate purposes include capital expenditure, strategic initiatives, investments in subsidiaries, and working capital requirements.
Progress and Deployment
During the quarter, the company utilized Rs. 411.01 crore for the repayment of LC facilities. For general corporate purposes, Rs. 660.00 crore was utilized towards investments in subsidiaries. Issue expenses accounted for Rs. 3.90 crore during the same period.
The total unutilized amount as of June 30, 2026, stands at Rs. 1,725.09 crore. The report also outlines the investment details, including various fixed deposits made with different banks, with a market value as at the end of the quarter totaling approximately Rs. 1,725.09 crore.
Forward-Looking Statements
The report confirms that there were no delays in the implementation of the objects. The company’s website, www.acmesolar.in, will also host this report for public access.
Source: BSE
