ACME Solar shares in focus after securing Rs 1,072 crore refinancing for 250 MW project in Rajasthan
Shares of ACME Solar Holdings will be in focus on Tuesday after the company announced that it has secured a Rs 1,072 crore domestic project finance facility to refinance existing debt for its 250 MW operational solar project in Rajasthan.
ADVERTISEMENT The refinancing has been raised for ACME Aklera Power Technology, a wholly owned subsidiary of ACME Solar. The project, which has been operational for 18 months, achieved an annual Capacity Utilisation Factor (CUF) of 29.3% in FY25, according to the company's statement.
The new facility will reduce the financing cost by 95 basis points to 8.5% per annum and comes with a tenure of 18 years. The refinancing was arranged through a consortium of lenders led by Bank of America and Standard Chartered Bank.
This latest refinancing deal adds to the Rs 4,575 crore of refinancing completed by ACME Solar in the past six months, as part of its broader strategy to optimise its capital structure, lower debt costs, and improve its credit profile.'This refinancing aligns with our strategy to create an efficient capital structure by reducing the cost of debt while diversifying our sources of funds and lending partners,' said Rajat Kumar Singh, Group CFO of ACME Solar Holdings.
Also Read: 11 Nifty mid & smallcap stocks that can rally 40-90% over the next 12 months
ADVERTISEMENT According to Trendlyne, the average analyst target price for ACME Solar stands at Rs 310, implying an upside potential of about 26% from current levels. Among the six analysts tracking the stock, the consensus rating is a 'Strong Buy'.
Also Read: Is the grey market premium misleading? Decoding the valuation gap in HDB Financial's IPO
ADVERTISEMENT On the technical front, the stock's Relative Strength Index (RSI) is at 51.1, indicating neutral momentum. The stock is currently trading below its 20-day and 30-day simple moving averages, but remains above its 50-day, 100-day, and 200-day SMAs.
So far in 2025, ACME Solar shares have gained 4% and are up around 21% over the past three months. The company's current market capitalisation stands at approximately Rs 14,860 crore.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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