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InoxGFL's renewable arm raises Rs.300-Cr

Economic Times  

Vadodara-headquartered IGREL Renewables Ltd., a privately held renewable power generation platform of InoxGFL Group, has raised INR 300 crore equity capital by diluting a single-digit stake in the company.Akash Bhansali, Rohit Kothari, and Madhusudan Kela have invested in IGREL Renewables through their respective entities.IGREL Renewables aims to become a premier renewable power generation platform. The company targets to reach an installed capacity of 2 GW by FY27 (combination of wind and solar) at a cumulative capex of INR 12,000 crore. This effort will be funded through a combination of equity (25%) and debt (75%).