December 09, 2016 5:15 PM ET

Real Estate Management and Development

Company Overview of ACME Group

Company Overview

ACME Group develops commercial properties and residential projects in India. The company was founded in 1976 and is based in Mumbai, India.

Acme Ghar

19, K.D.Road

Vile Parle (West)

Mumbai,  400 056

India

Founded in 1976

Phone:

91 22 2671 8883

Fax:

91 22 2671 0976

Key Executives for ACME Group

Managing Director and Director
Compensation as of Fiscal Year 2016.

ACME Group Key Developments

HDFC Capital Reportedly In talks To Invest INR 5 Billion In Acme Group’s Projects

HDFC Capital Advisors Limited entered into an agreement to invest about INR 5 billion in Acme Group’s projects through one of its funds, said two persons familiar with the development. This is HDFC Capital’s first investment in Mumbai. According to the platform deal, part of HDFC Capital’s funding will be invested in the developer’s four existing projects in the Mumbai Metropolitan Region. These projects are at various stages of construction and have a total saleable area of 4 million square feet. “Funds are likely to be used to add more projects and strengthen the delivery of existing projects. This is a pure equity investment and a certain part of the funding will also be invested in new projects to be undertaken by the developer in and around the Mumbai Metropolitan Region.” said one of the persons mentioned above.

ReNew Power Ventures Seeks To Raise Funds

Sources say ReNew Power Ventures Pvt. Ltd. and ACME Group aims to raise Funds. ReNew Power intends to raise INR 15 billion via infrastructure investment trusts in order to acquire renewable power plants. ACME plans to raise INR 6 billion. Sources say that both the companies are in talks with merchant bankers.

ACME Group Signs PPA for 30MW Solar Project with Uttar Pradesh

ACME announced that it has signed the PPA for 30MW solar PV power projects with Uttar Pradesh Power Corporation Limited. The power plant will be set-up at Mahoba District over 607,028sqm of land. As per the terms and conditions of the agreement, ACME Group would provide approx. 50 million units power annually for a period of 12 years at a tariff of INR 8.93/KWh and thereafter, it would supply power for further 13 years at the price of eleventh year Average Pooled Purchase Cost (APPC). This project would entail an estimated investment of approx INR 2.25 billion. The work on the project shall commence by November 2015 and will be commissioned by August 2016. This will be evacuated by 132KV line connecting the power plant to the State grid. The company aims to generate 7,500MW by the year 2017. ACME showcased its prowess in solar PV technology through its 25MW plant at Khilchipur, Madhya Pradesh that achieved a record output of 25GWh in six months of installation, a record in maximum power output by any solar power plant of that scale.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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