7 months ago
Inox Clean Energy raises Rs 3,100 crore
Inox Clean Energy, a company that focuses on clean energy, has raised a lot of money, Rs 3,100 crore, from different investors.
These investors include big names from both India and other countries.
The company plans to use this money to grow and reach a goal of producing 10 gigawatts of energy by the year 2028.
The investors bought a small part, about 5.8%, of the company.
This means the company is now worth Rs 50,000 crore before this investment.
The money will help Inox Clean Energy make more clean energy for everyone.
Inox Clean Energy raised Rs 3,100 crore in equity funding.
The funding round saw participation from foreign and domestic investors.
The company diluted around 5.8% stake in the equity round.
The equity was tied up at a pre-money valuation of Rs 50,000 crore.
Proceeds will be used to achieve a 10 gigawatt capacity target by FY28.
- Who
- Inox Clean Energy Ltd and its subsidiary Inox Solar Ltd
- What
- Raised Rs 3,100 crore in equity funding
- Where
- New Delhi, India
- When
- Wednesday (specific date not mentioned)
- Why
- To achieve 10 gigawatt capacity target by FY28
Key facts
- Amount Raised
- Rs 3,100 crore
- Valuation
- Rs 50,000 crore (pre-money)
- Stake Diluted
- 5.8%
- Target Capacity
- 10 gigawatt by FY28
- Investors
- CalPERS, SUN Group Global, Authum Investments, Akash Bhansali, family offices, HNI investors
