Scrambling for IPOs in India

摘要

When Indian solar and storage developer Acme Solar announced plans to raise US$335m (Rs2,200 crore) through an initial public offering or IPO, it was a logical strategic move after the company won an auction bidding earlier this year for the lowest-priced solar power project in the country's history. Acme Solar secured the rights to develop a 200MW solar power project in Rajasthan-based Bhadia solar power park at a record tariff of Rs 2.44/kWh (3.7UScents/ kWh), and analysts note that as more renewable developers pursue their next stage of growth and investors look to cash in, IPOs will become a more common occurrence. But finalising deals might be trickier for less established firms.