New Delhi: Matrix Gas & Renewables Limited, a subsidiary of Gensol Group, announced a successful capital raise of INR 350 Crore in a pre-IPO round, marking a significant step in its growth strategy. The fund will support the company’s expansion plans in the gas aggregation business, acquisition of city gas distribution (CGD) assets, and capital expenditure on green hydrogen production plants and hydrogen electrolyser manufacturing plant. These initiatives are in collaboration with Gensol Engineering Ltd.
The investment round witnessed participation from notable investors including Gunavanth Vaid from 4GCapital Venture, Sarda Group, Sunil Kumar Singhvi of Singhvi Heritage LLP, Blue Lotus Fund, NAV Capital Emerging Fund, and the company’s promoters.
Anmol Singh Jaggi, Chairman and Managing Director of Matrix Gas and Renewables Ltd., highlighted the strategic importance of the funding. “This fundraise aims at accelerating our business expansion and fortifying our commitment to addressing India’s increasing energy demands with natural gas and hydrogen as key energy sources. Our planned investments in new ventures, fueled by this equity infusion, will hasten our growth initiatives. We are dedicated to building a sustainable enterprise and generating long-term stakeholder value,” said Jaggi.
Matrix is strategically positioned to contribute significantly to India’s growing energy demand by providing a reliable and competitively priced supply of natural gas from diverse sources. The company is further set to bolster its growth with diversification plans in green hydrogen infrastructure development.
The company is backed by serial entrepreneurs Anmol Singh Jaggi and Puneet Singh Jaggi, founders of Gensol Group (Gensol Engineering Ltd, Prescinto Technologies and BluSmart), and the Matrix business is led by Chirag Kotecha, who has more than 18 years of experience in the natural gas industry.
