ACME Solar Stock Climbs 2% after Company Achieves SBI Refinancing and ICRA Rating Upgrade

Mumbai, September 24, 2025: ACME Solar Holdings Limited (NSE: ACMESOLAR, BSE: 544283) share price rose 2.30 percent to ₹294.15 during morning trading on Wednesday after the company said it had entered into a significant refinancing agreement with State Bank of India (SBI) and ICRA had upgraded its rating. The stock rose to an intraday high of ₹294.70 from the last close of ₹287.55.

ACME Solar Holdings Limited, which was listed on the NSE and BSE in November 2024, is an integrated renewable energy player with in-house EPC and operations and maintenance capacity. The company is headquartered in Gurugram and has been one of the leading players in India’s renewable energy transition, and is further increasing its footprint under both government and private power purchase agreements.

SBI Refinancing Deal

On September 23, ACME Solar reported that it had raised a refinancing facility of ₹1,100 crore from State Bank of India for its 300 MW Rajasthan renewable energy project. The facility of refinancing has a repayment period of 17 years and is likely to reduce the company’s cost of financing by about 100 basis points. The operating project has been consistently achieving optimum capacity utilization factors for the past six months.

In accordance with the company, the refinancing reflects its approach to enhancing debt charges, strengthening its balance sheet, and facilitating capacity building in the field of renewable energy.

ICRA Rating Upgrade

On September 24, ICRA upgraded the rating of ACME Solar’s wholly owned subsidiary, ACME Aklera Power Technology Pvt Ltd (AKPTPL). The rating agency upgraded the rating of its ₹1,072 crore term loan facility from ‘A+/Stable’ to ‘AA-/Stable’. Bank of America, Standard Chartered Bank, and India Infradebt provided this facility.

The upgrade refers to AKPTPL’s 250 MW Rajasthan project that has a 25-year power purchase agreement with Solar Energy Corporation of India (SECI). The deal offers long-term revenue visibility and stable cash flows. ICRA attributed ACME Solar’s good parent credit profile, successful refinancing, and strong operational performance as the main reasons for the upgrade.

Market Snapshot

As of 11:46 am IST, ACME Solar was trading at ₹287.45, with a drop of 0.084 percent. The market capitalization of the company was at ₹17,792.61 crore with a free-float market cap of ₹2,930.66 crore. Its price-to-earnings ratio was at 43.36 on an adjusted basis. The stock is included in the NIFTY Smallcap 250 index and has ranged from ₹167.75 to ₹324.30 in the last 52 weeks.

Management Outlook

ACME Solar’s representative stated that the SBI refinancing and ICRA rating action both signify the company’s emphasis on financial prudence and long-term operational balance. Through these actions, the company seeks to enhance its credit profile while opening up space for capacity expansion. ACME Solar operates 2,890 MW of renewable capacity in solar, wind, hybrid, and storage solutions as of now.

REF:https://nsearchives.nseindia.com/corporate/ACME122002_23092025081911_Intimation23092025.pdf

https://nsearchives.nseindia.com/corporate/ACME122002_24092025082657_Intimation24092025.pdf

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