ACME Solar rallies 9%, hits record high; up 70% from Jan low; here's why

ACME Solar launched a QIP, with reports indicating a fundraise of up to ₹2,500 crore to support growth capex, renewable energy project expansion and balance sheet strengthening.

ACME Solar Holdings share price

 

Share price of ACME Solar Holdings hit a record high of ₹333.25, on rallying 9 per cent on the BSE in Tuesday’s intra-day trade amid heavy volumes after the company launched a Qualified Institutional Placement (QIP) on Monday, June 1, 2026.

 

The stock price of the power generation company surpassed its previous high of ₹324.25 touched on September 15, 2025. It has bounced back 70 per cent from its 52-week low of ₹195.65 touched on January 27, 2026.

 

At 10:52 AM; ACME Solar was quoting 8 per cent higher at ₹330, as compared to 0.24 per cent decline in the BSE Sensex. The average trading volumes at the counter jumped 1.5 times with a combined 7.2 million equity shares changing hands on the NSE and BSE.

 

 

ACME Solar launches QIP issue

 

ACME Solar Holdings has launched a Qualified Institutional Placement (QIP) on June 1, 2026, with reports indicating a fundraise of up to ₹2,500 crore to support growth capex, renewable energy (RE) project expansion and balance sheet strengthening. 

 

The company fixed the floor price at ₹294.13 per share in accordance with SEBI regulations and may offer a discount of up to 5 per cent on the floor price. The proposed equity issuance will also help ACME comply with SEBI’s minimum public shareholding norms, with promoter holding currently at 83.3 per cent, while the final issue price will be determined through the book-building process.

 

ACME Solar is a leading integrated renewable energy player with a diversified portfolio of 8,070 MW spanning solar, wind, storage, FDRE and hybrid solutions and an operational contracted capacity of 2,990 MW and ~2.7 GWh of BESS Capacity and under construction capacity of 5,080 MW including ~18 GWh of BESS installation.  Check - TOP GAINERS NSE | TOP LOSERS NSE

Recent developments

 

ACME Solar Holdings (ASHL), through its wholly-owned subsidiary i.e. ACME Sun Power Private Limited, commissioned 33.333 MW/160.512 MWh capacity of Battery Energy Storage System (BESS) Project located at Rajasthan, on June 01, 2026.  The Commercial operation date (COD) for the same shall be June 03, 2026.

 

With this, ACME Sun Power Private Limited achieved a commissioned capacity of 266.669 MW / 1283.936 MWh, the company said.

 

Meanwhile, on May 26, 2026, ACME Solar through its subsidiary ACME Renewtech Sixth Private Limited, signed a 25-year Power Purchase Agreement (PPA) with Solar Energy Corporation of India Limited (SECI), a AAA-rated Central Government enterprise, for 300 MW / 1,200 MWh ISTS-connected assured peak power capacity.

 

With this, out of the total contracted portfolio of 8,070 MW, PPA-signed portfolio stands at 6,570 MW, ACME Solar said.

 

ACME Solar - Outlook

 

Going forward, the management in the Q4 earnings conference call said the company’s key focus remains on timely execution alongside healthy order book additions with the following priorities. The company will continue to focus on advancing commissioning and operation of large-scale BESS capacity, which will utilize transmission infra of existing operational projects and will run on merchant on short-term basis.

 

Upcoming future operational capacity is expected to have an operating battery portfolio of around 10 gigawatt hour, along with 1.5 gigawatts of contracted generation capacity, subject to timely availability of transmission connectivity and other external factors. 

 

Brokerages view on ACME Solar

 

Analysts at HSBC Global Investment Research believe ACME, a fully vertically integrated renewable IPP, is in a high growth phase adding significant capacity over the next two years. Strategically, the business is evolving from a pure-play solar provider to more complex firm and dispatchable renewable energy (FDRE) projects, which require a combination of solar, wind, and battery storage capacity. 

 

Further, it is using a strategy of early BESS commissioning to generate merchant revenue before the BESS is integrated into their FDRE projects. All this positions it well to benefit from India’s RE growth story. The brokerage firm maintains a 'Buy' rating on stock and increase target price to ₹370 (from ₹350) as it factor in merchant BESS in estimates.

 

Motilal Oswal Financial Services has also reiterated a 'BUY' rating on ACME with a target price of ₹410. The brokerage assigned an EV/EBITDA multiple of 10x to FY28E EBITDA. Key monitorables include, pace of commissioning against FY27 guidance of 1.5GW RE capacity addition; progress of targeted 10GWh BESS capacity by end-FY27; and merchant spreads from BESS and their contribution to earnings in FY27.  =====================================  Disclaimer: View and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Readers discretion is advised.