Acme Solar Holdings shares jumped 9% to hit a record high of ₹333.25 after the company launched its qualified institutional placement (QIP) with a floor price of ₹294.13 per share. The renewable energy firm's board authorized and declared the opening of the QIP issue on Monday, June 1, 2026, with the floor price representing a 4.16% discount compared to the previous day's closing of ₹306.90 on BSE. According to Business Standard, the company may offer a discount of up to 5% on the floor price at its discretion. The company aims to raise up to ₹2,500 crore through this QIP, which comprises a base issue size of ₹2,600 crore along with a greenshoe option of ₹200 crore. The company will use net proceeds from the QIP towards debt repayment and for general corporate purposes, with the proposed equity issuance also helping ACME comply with SEBI's minimum public shareholding norms.
The stock surpassed its previous high of ₹324.25 touched on September 15, 2025, demonstrating exceptional momentum with gains of more than 70% from its 52-week low of ₹195.65 touched on January 27, 2026. The mid-cap stock had previously surged over 4% on Monday to reach their all-time high of ₹324.40 on the NSE, extending their winning streak to seven consecutive sessions. According to Business Standard, the stock was quoting 8% higher at ₹330 as of 10:52 AM, significantly outperforming the BSE Sensex which declined 0.24%. The stock's remarkable performance reflects strong investor confidence, with trading volumes significantly exceeding historical averages.
The surge was supported by robust trading volumes, with average trading volumes jumping 1.5 times with a combined 7.2 million equity shares changing hands on the NSE and BSE. As reported by Business Standard, this represents a significant increase in investor participation, indicating strong buying momentum behind the stock's rally. The elevated trading volumes suggest increased institutional and retail interest in the company's prospects, with the heavy volumes contributing to the stock's record-breaking performance.
Besides the QIP launch, the company informed exchange that its wholly-owned subsidiary ACME Sun Power Private Limited has commissioned 33.333 MW/160.512 MWh capacity of Battery Energy Storage System (BESS) Project located at Village: Badi Sid, Rajasthan, on June 01, 2026. The commercial operation date (COD) for the project has been fixed as June 03, 2026. With this addition, ACME Sun Power Private Limited has achieved a commissioned capacity of 266.669 MW/1,283.936 MWh. Additionally, 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) for 300 MW/1,200 MWh ISTS-connected assured peak power capacity. This brings the PPA-signed portfolio to 6,570 MW out of the total contracted portfolio of 8,070 MW.
The management in the Q4 earnings conference call highlighted the company's focus on timely execution alongside healthy order book additions, with key priorities including advancing commissioning and operation of large-scale BESS capacity. According to Business Standard, 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. Analysts at HSBC Global Investment Research maintain a 'Buy' rating with a target price of ₹370 (increased from ₹350), citing ACME as a fully vertically integrated renewable IPP in a high growth phase. Motilal Oswal Financial Services has also reiterated a 'BUY' rating with a target price of ₹410, assigning an EV/EBITDA multiple of 10x to FY28E EBITDA. Key monitorables include the 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.
