Try GOLD - Free
Acme appoints EY to sell InvIT stake
Mint Mumbai
|November 09, 2023
Acme Group has mandated EY to sell up to A 51% in its proposed infrastructure investment trust (InvIT) for around $1.3 billion (around ₹10,800 crore), two people aware of the development said, in what may rank among the largest green energy deals in India.
The Acme Solar InvIT will be privately listed and will be sponsored by India's largest pure-play solar platform Acme and incoming investors. The InvIT will house 1.8 gigawatts (GW) of operating solar assets. InvITs manage income-generating infrastructure assets, typically offering investors a regular yield and a liquid method of investing in infrastructure projects.
"Initial conversations are ongoing with select investors," said one of the two people cited above, requesting anonymity.
Investors have been eyeing the InvIT route, with KKR & Co.-backed India Grid Trust (IndiGrid) being the country's first listed power sector InvIT.
An EY spokesperson declined comment while queries emailed to the spokesperson of Acme Group remained unanswered till press time.
This story is from the November 09, 2023 edition of Mint Mumbai.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Mint Mumbai
Mint Mumbai
In a sea of tech talent, companies can’t find the workers they want
There has rarely, if ever, been so much tech talent available in the job market. Yet many tech companies say good help is hard to find.
4 mins
October 03, 2025
Mint Mumbai
Hexaware sued for $500 million in US over patent breach
American IT services firm Natsoft Corp. has sued Hexaware Technologies Ltd for breach of contract and patent infringement, seeking $500 million in damages from the latter, in one of the biggest patent cases against an Indian IT firm.
3 mins
October 03, 2025
Mint Mumbai
GST boom ahead?
India's latest goods and services tax (GST) revenue figures paint an optimistic picture.
1 min
October 03, 2025
Mint Mumbai
H-1B clampdown may extend to US college faculty
Rising anti-immigration sentiment in the US is no longer confined to moves to limit foreign technology workers from entering the country.
2 mins
October 03, 2025
Mint Mumbai
FPIs pull record ₹2 tn on valuations, weak rupee
Heavy outflows could cap market gains; Nifty returns just 0.3% in dollar terms
2 mins
October 03, 2025
Mint Mumbai
Instant grocery delivery is going luxe to stand out
Blinkit joins the race as it expands to ozone-washed fruits and artisanal breads to cheese
2 mins
October 03, 2025
Mint Mumbai
Next-gen reforms to tackle land, women's participation
The initiatives seek to tackle some of the intractable challenges in India's development story
2 mins
October 03, 2025
Mint Mumbai
Why India's best students face a tough job market
Students entering this year's placement season are stepping into a rough job market.
2 mins
October 03, 2025
Mint Mumbai
Govt scans e-commerce cos’ COD charges, refund delays
The government will examine if cash-on-delivery charges imposed by online retailers are aimed at nudging consumers to pay upfront, and why refunds are delayed or blocked if prepaid orders are cancelled, said two people aware of the matter.
2 mins
October 03, 2025
Mint Mumbai
WHY INDIA IS SEEKING A NEW SUNRISE IN JAPAN
India missed out on Japanese investment in its initial post-reform years. That could change now
7 mins
October 03, 2025
Translate
Change font size