Inox Green Energy shares jumped more than 3% in morning trade after the company raised Rs 300 crore equity capital from marquee investors.
IGREL Renewables, the INOXGFL Group’s privately held renewable power generating platform, successfully raised Rs 300 crore in equity capital from prominent investors, including Akash Bhansali, Rohit Kothari and Madhusudan Kela through their separate entities. The capital raise will lead to a single-digit equity dilution.
With support from the INOXGFL Group, IGREL Renewables hopes to emerge as one of India’s top pure-play platforms for commercial and industrial (C&I) renewable energy. By FY27, the company aims to have combined solar and wind energy established with a capacity of 2 GW. Over the following three years, this development will need a total capital investment of over Rs 12,000 crore.
As of 10:15 am, Inox Green Energy shares were trading 3.05% higher at Rs 212.90 on the NSE.
