April 4, 2023 — MUMBAI, India; AHMEDABAD, India; and BANGALORE, India — Alchemie Investments, a division of Chandrakant Gogri’s family office, has announced that it would lead the first round of funding for Prozeal Infra Engineering Pvt. Ltd. An unknown price is being paid for a minority ownership worth USD 4 million (around INR 32.5 crore). The money will be utilized by energy and utility firms to grow operations and carry out developer-model initiatives. The deal, which marks the largest Series-A funding transaction in India’s Solar EPC industry in more than two years, was exclusively handled by Incorp Advisors.
Two co-founders with offices in Ahmedabad created the homegrown company Prozeal Infra. The firm already has a backlog of orders of INR 1,000 crore ($120 million), which will be completed over the following year. They anticipate sales of more than INR 1,500 Crore ($187.5 Million) in FY25.
Co-founder of Prozeal, Manan Thakkar, stated, “We support the National Solar Mission, a crucial initiative envisioned by the Honourable Prime Minister Shri Narendra Modi for the diversification of India’s energy supply. This investment demonstrates our commitment to building a sustainable future to meet India’s expanding energy needs.”
The founder and former chairman of the Aarti Group of Industries (NSE: AARTIIND), Chandrakant Gogri, stated, “I am amazed by what Prozeal Infra’s vibrant and driven founders have accomplished. Decarbonization and solar energy are the cornerstones of India’s commitment to combating climate change. Prozeal Infra is in a good position to take the lion’s share of this energy shift because of its engineering expertise.”
India has pledged to combat climate change by obtaining 50% of its energy needs from renewable sources by 2030. By 2030, 300 GW of installed solar power capacity will exist, compared to only 65 GW presently. Prozeal Infra has the vision to assist India’s sustainable energy objectives by being a decarbonization and net-zero solution provider for commercial and industrial MNCs, MSMEs, and government institutions.
Head of Investment Banking at InCorp Advisory, Inderpreet Chadha, stated, “With this investment, Prozeal Infra is propelled towards being one of India’s leading leaders in this industry. We take great pride in our involvement in this hallmark transaction. We demonstrated that companies committed to generating long-term customer value are unaffected by the so-called “financing winter.”
Leading solar EPC business Prozeal Infra Engineering Pvt. Ltd. is headquartered in Ahmedabad, India. The business began operations in 2013, concentrating on the commercial and industrial sectors before progressively expanding to take on more significant contracts geared towards the utility sector. They currently have 1 GW of installed capacity spread across several projects. Over 200 businesses, including well-known clients like Ashok Leyland, Pidilite Industries, Mahindra CIE, Indian Oil, Hinduja Renewables, JSW, GHCL, and many more, have hired them to complete projects.
We try our best to fact-check and bring the best, well-researched, and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
. The money will be utilized by energy and utility firms to grow operations and carry out developer-model initiatives. The deal, which marks the largest Series-A funding transaction in India's Solar EPC industry in more than two years, was exclusively handled by Incorp Advisors.){kind=link}