Acme Solar and Avantel Make Strides with Ratings Boost and New Facility

Acme Solar Holdings is experiencing a significant upturn as CRISIL Ratings has elevated its ratings on the company's non-fund-based long-term bank facilities worth Rs 1,000 crore. The upgrade to Crisil AA-/Stable from Crisil A+/Positive reflects Acme's robust growth in its operational portfolio and successful refinancing strategies to reduce debt costs, ultimately boosting cash flows.

On the technology front, Avantel, a satellite communications, and defense electronics firm, has launched its second facility in Hyderabad with a Rs 56 crore investment. The facility, sprawling over 76,000 sqft, is dedicated to designing, developing, and manufacturing state-of-the-art Software-Defined Radios, radar systems, and satellite integration.

This new establishment is poised to markedly enhance Telangana's economy by creating over 300 direct and more than 1,000 indirect jobs, alongside offering new services such as Ground Station as a Service for satellite data capture.