Cyril Amarchand Mangaldas, TT&A, Khaitan & Co act on Hygenco $105 million fundraise

Hygenco Green Energies Private Limited has raised $105 million from a fundraise led by International Finance Corporation, Siemens Financial Services and Fullerton Asset Management.

Cyril Amarchand Mangaldas advised Hygenco and its promoters on this fundraise.

The transaction team was led by Amarta Roy (Partner) and Ishita Khandelwal (Partner), with support from Shreya Teewari (Principal Associate), Parnika Malhotra (Consultant), Bharti Singh (Senior Associate) and Aeruva Akash (Associate).

TT&A advised IFC and Fullerton on their investments in Hygenco.

The transaction team consisted of Gautam Saha (Partner), Amrita Patnaik (Partner), Pooja Menon (Partner) and Shamik Gupta (Senior Associate).

Akshay Malhotra (Partner), Kush Saggi (Managing Associate) and Eshani Agarwal (Associate) conducted due diligence.

Khaitan & Co advised Siemens on their investment in Hygenco.

Hygenco is a company focused on developing and deploying commercial green hydrogen and green ammonia production systems. Their mission includes developing large-scale, commercially attractive green energy production, targeting 10 GW capacity to support sustainable industrial applications.

This transaction marks a significant step towards strengthening the foundation for achieving the goals set out under the National Green Hydrogen Mission and provides an impetus to the growing Indian Green Hydrogen market by scaling the supply of competitive, seamless, high-quality green molecules to industrial customers nationwide.

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