Motilal Oswal to invest Rs 1,500 cr in Inox

New Delhi: Inox Clean Energy on Thursday said the Motilal Oswal Group has announced an investment commitment of Rs 1,500 crore in the company, of which Rs 1,000 crore has already been completed.

The funds raised are in the form of Compulsorily Convertible Debentures (CCDs) and will be utilised to support Inox Clean’s growth, particularly its inorganic growth initiatives.

This follows a Rs 700 crore investment from the Adar Poonawalla Family Office in Inox Clean. Other marquee investors in Inox Clean and its subsidiaries include CalPERS, RJ Corp, Hero Group, Authum Investments, Akash Bhansali, and other family offices and HNIs.

Inox Clean, the integrated renewable energy platform of the INOXGFL Group, operates across the renewable IPP (Independent Power Producer) business under its subsidiary Inox Neo Energies Ltd and the solar manufacturing business under its subsidiary Inox Solar Ltd.