ACME Solar Holdings Limited, a prominent player in India’s renewable energy sector, has successfully raised ₹2,800 crore through a Qualified Institutional Placement (QIP) of equity shares. This significant financial move was facilitated by several leading legal firms.
Shardul Amarchand Mangaldas & Co’s Involvement
Shardul Amarchand Mangaldas & Co played a crucial role by advising ACME Solar on the QIP transaction. The legal team was spearheaded by Prashant Gupta, Partner and National Practice Head of Capital Markets, alongside Partner Sayantan Dutta. The execution of the transaction was supported by Romit Raja Srivastava (Principal Associate), Shivang Agarwal (Senior Associate), and Associates Aishwariya Chaturvedi and Dipti Tharwani.
Cyril Amarchand Mangaldas’ Role
Cyril Amarchand Mangaldas provided legal counsel to the Placement Agents, ICICI Securities and IIFL Capital Services Limited. This aspect of the transaction was led by Manan Lahoty, Partner and Head of Capital Markets, with Vishal Yaduvanshi, Partner and Regional Co-Head of Capital Markets – North, and Puneet Passi, Partner, also contributing significantly. They were supported by Senior Associate Rishi Nandkeolyar and Associates Arjun Badola, Ritvik Maheshwari, Vatsala Parashar, Abhirup Manna, and Naman Kulshrestha.
Hogan Lovells as International Legal Counsel
The placement agents also received international legal advice from Hogan Lovells. The legal team was led by Biswajit Chatterjee, the Head of the India Practice and Managing Partner of the Dubai Office.
About ACME Solar Holdings
ACME Solar Holdings is a leading renewable energy company in India, with a diverse portfolio that includes solar, wind, battery energy storage systems, hybrid, and firm and dispatchable renewable energy projects. As of March 31, 2026, ACME Solar ranks among the top 10 renewable energy players in India, based on total capacity, including both operational and under-construction projects.
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For further insights into the legal landscape surrounding significant financial transactions like these, visit our annual IPO Coverage, where you can also find information about the dominant law firms in the ₹1,000+ crore segment, foreign law firms involved in Indian IPOs, and the billing practices of law firms in these high-stakes scenarios.
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