M&A

M&A

Inoxgfl Group leads race to buy out Vena Energy India biz for Rs.5,000-Cr

Economic Times  

Noida-based Inoxgfl has emerged as the front-runner to acquire the Indian renewable energy business of Vena Energy, a platform currently owned by Global Infrastructure Partners (GIP). The proposed transaction is expected to ascribe an enterprise value of Rs.4,500-Cr to Rs.5,000-Cr to the target business, as the conglomerate surpassed other bidders, including Jindal Renewables and Sekura Energy.Vena Energy India operates a 1.1 gigawatt renewable energy platform. Following the acquisition of GIP by BlackRock in 2024-25, Vena Energy India became part of the broader infrastructure portfolio of the latter. The company maintains solar and wind assets across Madhya Pradesh, Telangana, Maharashtra, Karnataka, and Gujarat.Inoxgfl has recently acquired the renewable energy platform Vibrant Energy from Macquarie Group and the solar manufacturer Boviet Solar.