Acme Solar Holdings Ltd., a renewable energy company, is preparing to launch its IPO in November, although exact dates have yet to be confirmed. The company aims to raise Rs 3,000 crore through its public offer, which will consist of a fresh issue of Rs 2,000 crore and an offer for sale component worth Rs 1,000 crore.

Promoters Mamta Upadhyay, Manoj Kumar Upadhyay, ACME Cleantech Solutions, MKU Holdings and Upadhyay Family Trust will offload their stake in the company through the OFS route.

The price range for Acme Solar’s IPO has not yet been decided.

The company will use Rs 1,500 crore from the fresh IPO proceeds to clear its debts. The remaining portion will be used for general corporate purposes.