Acme Tele Power to enter capital mkt, files DRHP with Sebi

Acme Tele Power Limited (ATPL) of Acme Group, provider of innovative energy conservation solutions and products to companies operating in the global telecommunications industry, proposes to enter the capital market with a Public Offer of 17,283,580 equity shares of Rs 2 each, through the book building route. The Company has filed its Draft Red Herring Prospectus with the Securities and Exchange Board of India.

The Book Running Lead Managers to the proposed issue are Kotak Mahindra Capital Company Limited, UBS Securities India Private Limited, Citigroup Global Markets India Private Limited and Deutsche Equities India Private Limited.

Prior to the proposed public issue, the Company has placed through the private equity placement route, a total of 2,856,502 shares of Rs 2 each, representing 1.66% of the expanded capital base of the Company, at a price of Rs 688 per share, aggregating to Rs.196.5 crore approx (US $50 million). Out of these, 2,283,066 shares have been placed with DB International (Asia) Limited, 428,088 shares with Earthstone Holdings Private Limited and145,348 shares with Kotak Mahindra Capital Company Limited.

Acme was established in the year 2003 and is promoted by Mr. Manoj Kumar Updadhyay, who has 14 years of experience in the power and telecommunications industry.  Originally, Acme operated as a provider of passive infrastructure products and installation and maintenance services to wireless telecommunications service providers ("telecommunication operators").  In 2007, the company began to expand the scope of its business to include the provision of energy management services and turnkey solutions to telecommunication operators. 

The Company specializes in providing comprehensive, energy efficient and environmentally friendly passive infrastructure solutions to telecommunication operators.  The solutions enable its clients to reduce their energy costs leading to a potential improvement in their operating margins. 

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