Adar Poonawalla Family Office, through Rising Sun Holdings Pvt Ltd, invests ₹700 crore in Inox Clean Energy (Inox Clean), the company says. The fresh funding is raised at a valuation of ₹70,000 crore and supports expansion of the INOXGFL Group’s renewable energy platform, including plans in renewable power and solar manufacturing. Inox Clean says the investment follows earlier participation by other investors. It also notes that CalPERS (California Public Employees’ Retirement System) had invested about ₹800 crore in previous rounds, alongside other investors. The announcement comes as Inox Clean prepares for its next phase of growth after completing a series of acquisitions, which the outlets describe as part of building momentum for expansion. Inox Clean’s management welcomes the new investment as an endorsement of its long-term strategy and execution. No details on the use of proceeds beyond expansion and manufacturing support are specified in the provided reports.
Adar Poonawalla Family Office invests ₹700 crore in Inox Clean Energy
Adar Poonawalla Family Office, through Rising Sun Holdings Pvt Ltd, invests ₹700 crore in Inox Clean Energy (Inox Clean), the company says. The fresh funding is raised at a valuation of ₹70,000 crore...
- Inox Clean Energy receives ₹700 crore funding from Adar Poonawalla Family Office via Rising Sun Holdings Pvt Ltd.
- The investment is made at a valuation of ₹70,000 crore.
- The funding supports expansion of the INOXGFL Group’s renewable energy platform, including renewable power and solar manufacturing.
- CalPERS previously invested about ₹800 crore in earlier funding rounds, according to Inox Clean.
- The latest funding follows a period described as including acquisitions as the renewable platform moves into its next growth phase.
Fresh funding comes after a string of acquisitions as the renewable energy platform gears up for its next phase of expansion.
1 month agoInox Clean Energy Limited (Inox Clean) said on Thursday that it has secured Rs 700 crore in funding from the Adar Poonawalla Family Office. This follows an investment from CalPERS (California Public Employees' Retirement System, the largest pension fund in the US), which had invested approximately Rs 800 crore in the previous rounds, amongst other investors, Inox Clean said in a statement. The fresh funding of Rs 700 crore from Rising Sun Holdings Pvt Ltd, part of Adar Poonawalla Family Office, was raised at a valuation of Rs 70,000 crore, reinforcing investor confidence in Inox Clean Energy's long-term growth strategy, it said. Devansh Jain, Executive Director, INOXGFL Group, said, "We welcome Adar Poonawalla Family Office as an investor in Inox Clean. This investment is a strong endorsement of our vision, execution capabilities, and long-term growth strategy. Over the past year, we have built tremendous momentum by successfully executing our growth roadmap through a combination of
1 month agoThe investment values the INOXGFL Group’s renewable energy platform at ₹70,000 crore and will support expansion in renewable power and solar manufacturing.
1 month ago
CBC tells staff not to describe 9/11 as “terrorist attacks,” prompting backlash
The Canadian Broadcasting Corporation (CBC) circulates internal guidance instructing journalists not to refer to the Sep...
Peyton Manning’s son Marshall Manning debuts for Baylor School, then reports injury
Marshall Manning, the son of former NFL quarterback Peyton Manning, makes his high school football debut for Baylor Scho...
Study says many workers remain stuck on zero-hours contracts for years
A new study finds that many workers in the UK spend years trapped on zero-hours contracts, which researchers describe as...