Matrix Gas and Renewables Ltd (Matrix) on Tuesday said it has raised Rs 350 crore in the pre-IPO round to accelerate expansion of its gas business, acquisitions, and funding capital expenditure plans.
“The pre-IPO (Rs 350 crore) round saw participation from key investors like Gunavanth Vaid (4GCapital Venture), Sarda Group, Sunil Kumar Singhvi (Singhvi Heritage LLP), Blue Lotus Fund, NAV Capital Emerging Fund and the promoters of the company,” it said in a statement.
Matrix is a Gensol Group company and is the fastest-growing green hydrogen infrastructure developer and natural gas aggregator.
“Matrix has successfully raised Rs 350 crore in the pre-IPO round,” it said.
“With the current capital raise, Matrix is now well positioned to accelerate its growth initiatives towards expanding market share for the gas aggregation business, acquiring city gas distribution (CGD) assets, and funding the ongoing capital expenditure plan.
This round will also expedite setting up and commissionin
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