ACME Solar forms two new subsidiaries for renewable energy business

ACME Solar Holdings Limited has expanded its corporate structure by establishing two new wholly-owned subsidiaries on the first day of the new year.

In a regulatory filing, ACME Solar Holdings Limited stated that it has incorporated ACME Greentech Fifteen Private Limited and ACME Greentech Eighteen Private Limited. Both companies are registered in Gurugram, Haryana, India. The subsidiaries have been established to undertake business related to the development, establishment, and operation of power generation and renewable energy projects.

According to the disclosure, ACME Solar Holdings Limited has subscribed 100 per cent of the initial paid-up share capital in both subsidiaries. Each entity has an issued capital of Rs 1,00,000, comprising 10,000 equity shares with a face value of Rs 10, fully paid in cash. The company also confirmed that no governmental or regulatory approvals were needed for these incorporations.

The intimation has been made in compliance with Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015, along with applicable SEBI circulars.