IGREL Renewables Ltd, a privately held renewable power generation platform of the INOXGFL Group, has raised ₹300 crore in equity capital from marquee investors. It targets 2 GW of installed renewable capacity by FY27, with an investment of ₹12,000 crore over the next three years.
The stocks of Inox Green Energy Services Limited were trading at ₹217.75, up by ₹11.28 or 5.46 per cent, on the NSE at 11.40 am.
IGREL has secured power purchase agreements and letters of intent for over 600 MW capacity from group companies and other commercial and industrial customers. It has placed firm orders for 200 MW and signed an additional 550 MW letter of intent with Inox Wind for wind capacities.
The capital raise saw participation from investors including Akash Bhansali, Rohit Kothari, and Madhusudan Kela through their respective entities.