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IFC, two others may pick 49% in green H₂ maker Hygenco
Mint Kolkata
|November 17, 2025
The World Bank's International Finance Corp. (IFC), Munich-headquartered Siemens AG, and Singapore's Fullerton Fund Management may acquire at least 49% in Gurugram-based green hydrogen manufacturer Hygenco Green Energies Pvt. Ltd, two people aware of the development said.
Avendus Capital is managing the primary equity raise for the deal, which has an equity value of around $125 million and an enterprise value of around $250 million. IFC plans to invest $50 million equity in the company, with the remaining $75 million to be invested by Siemens AG and Fullerton Fund Management. The deal documentation is underway, and the transacti
This story is from the November 17, 2025 edition of Mint Kolkata.
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