Cyril Amarchand Mangaldas has advised Hygenco and the promoters in relation to the issue of fresh equity of USD 105 million (about INR 900 crore) from a consortium led by the International Finance Corporation (IFC), Siemens Financial Services and Fullerton Carbon Action Fund. Talwar Thakore & Associates advised IFC and Fullerton on their proposed investment in this transaction.
This transaction marks one of the largest private capital commitments to India’s emerging green hydrogen sector. Avendus Capital acted as the exclusive financial advisor to Hygenco on this transaction.
As per a media release by Avendus, by expanding the production capabilities and strengthening supply chains, Hygenco aims to deliver zero-emission green molecules to hard-to-abate industrial sectors, playing a transformative role in the country’s energy transition and directly supporting India’s National Green Hydrogen Mission.
“We are thrilled to partner with IFC, Siemens, and Fullerton on our growth journey. This USD 105 mn equity investment showcases the deep confidence of marquee institutional investors in our green hydrogen innovation and execution capabilities,” said Amit Bansal, Co-Founder and CEO of Hygenco.
CAM’s transaction team was led by partners Amarta Roy and Ishita Khandelwal, with assistance from principal associate Shreya Teewari, consultant Parnika Malhotra, senior associate Bharti Singh and associate Aeruva Akash.
TT&A’s transaction team included partners Gautam Saha, Amrita Patnaik & Pooja Menon and senior associate Shamik Gupta.
TT&A’s legal due diligence team included partner Akshay Malhotra , managing associate Kush Saggi, and associate Eshani Agarwal.
