Hydrise Industries has raised ₹49.50 crores as funds for setting up an Ethanol plant in Madhya Pradesh - from Athena India Opportunities, a Mauritius based Investor, in return for a minority 21.85% stake in the company.

OP Khaitan & Co. Legal Partners LLP advised the company in respect of the above transaction.

The transaction team consisted of Gautam Khaitan (Managing Partner) and Manish Jain (Partner).

Hydrise Industries Private Limited is a company engaged in setting up a 200 KLPD grain based ethanol plant along with 6 MW co-generation power plant in Seoni, in the state of Madhya Pradesh.

The ethanol produced from the proposed project having zero liquid discharge shall be used solely for the purpose of the Ethanol Blending Programme of the Government of India.

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