Acme Solar Shares Surge 5% Despite US Tariffs, ₹2,491 Crore Funding for Debt Refinancing Boosts Investor Confidence and Improves Credit Rating.
Acme Solar Share Price: Despite ongoing market volatility following US President Donald Trump's tariff announcement, shares of Acme Solar Holdings Ltd. rose by 5% on Thursday. The stock opened on the BSE with a 4.99% surge, reaching ₹201.90, triggering an upper circuit breaker.
Reasons Behind the Solar Company's Strength?
Acme Solar Holdings, a major renewable energy company, recently secured a ₹2,491 crore long-term financing facility for its 490 megawatt operational renewable energy projects. This funding, secured for a project lifespan of 18 to 20 years, primarily aims to refinance existing debt and reduce financing costs.
Financial Strength and Interest Rate Reduction
According to BSE filings, the State Bank of India (SBI) and Rural Electrification Corporation (REC) provided the loan at a reduced interest rate of 8.8%. This move has improved the company's credit profile, with projects in Andhra Pradesh and Punjab receiving higher credit ratings.
Recent Performance of Acme Solar Shares
While Acme Solar shares remain 31% below their all-time high, they have shown growth exceeding 7% in the past month. Listed on the BSE at ₹259 in November 2023, the stock's IPO price band was ₹289. Currently, its 52-week high is ₹292 and its low is ₹167.55.
