{"id":85054,"date":"2025-11-19T00:00:00","date_gmt":"2025-11-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/mena-india\/hygenco-nears-usd-125-mn-equity-deal-with-ifc-siemens-fullerton\/"},"modified":"2025-11-19T00:00:00","modified_gmt":"2025-11-19T00:00:00","slug":"hygenco-nears-usd-125-mn-equity-deal-with-ifc-siemens-fullerton","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/mena-india\/2025\/11\/19\/hygenco-nears-usd-125-mn-equity-deal-with-ifc-siemens-fullerton\/","title":{"rendered":"Hygenco nears USD 125 mn equity deal with IFC, Siemens, Fullerton"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Global<\/strong><strong> capital lines up for Hygenco: <\/strong>Gurugram-based green hydrogen producer <a target=\"_blank\" href=\"https:\/\/www.hygenco.in\/\" style=\"\" rel=\"noopener\">Hygenco<\/a><a target=\"_blank\" href=\"https:\/\/www.hygenco.in\/\" style=\"\" rel=\"noopener\">Green Energies<\/a><a target=\"_blank\" href=\"https:\/\/www.hygenco.in\/\" style=\"\" rel=\"noopener\"><\/a> is set to sell a minimum 49% stake for USD 125 mn to a consortium that comprises the World Bank\u2019s <a target=\"_blank\" href=\"https:\/\/www.ifc.org\/en\/home\" style=\"\" rel=\"noopener\">International Finance Corporation<\/a> (IFC), <a target=\"_blank\" href=\"https:\/\/www.siemens.com\/in\/en.html\" style=\"\" rel=\"noopener\">Siemens<\/a> and <a target=\"_blank\" href=\"https:\/\/www.fullertonfund.com\/\" style=\"\" rel=\"noopener\">Singapore\u2019s Fullerton Fund Management<\/a>, in an agreement valuing the firm at about USD 250 mn, <a target=\"_blank\" href=\"https:\/\/www.livemint.com\/industry\/energy\/ifc-siemens-fullerton-may-buy-49-stake-in-clean-hydrogen-maker-hygenco-in-250-million-deal-11763217164475.html\" style=\"\" rel=\"noopener\">Mint<\/a> reports, citing unnamed sources. IFC plans to invest USD 50 mn, with Siemens and Fullerton bringing in the remaining USD 75 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Prelude to an IPO? <\/strong>Transactions like this that bring in a development finance institution such as the IFC and a global strategic such as Siemens often take place when a private-sector company is looking to send the signal that an IPO \u2014 while not imminent \u2014 could be in the cards somewhere down the line. The high-quality additions to its cap table would also make Hygenco more attractive down the road to a big strategic acquirer.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The agreement<\/strong>, on which <a target=\"_blank\" href=\"https:\/\/www.avendus.com\/india\" style=\"\" rel=\"noopener\">Avendus<\/a> advised, will support Hygenco\u2019s USD 2.5 bn rollout of green hydrogen projects and its target of 10 GW in assets by 2030.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Strategic shift to clean molecules:<\/strong> The Gurugram-based firm, 51% owned by its founders and 49% by <a target=\"_blank\" href=\"https:\/\/sbiventures.co.in\/funds-managed\/neev-fund-ii\/\" style=\"\" rel=\"noopener\">SBI Ventures\u2019 Neev Fund II<\/a>, has emerged as a frontrunner as India targets 5 mn tonnes of green hydrogen by 2030.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The UAE\u2019s Masdar was competing with several global investors to acquire up to 49% of Hygenco last year, with an equity value of around USD 400 mn, <a target=\"_blank\" href=\"https:\/\/www.livemint.com\/industry\/energy\/masdar-aiib-sojitz-mitsubishi-gentari-marubeni-ifc-among-others-eye-hygenco-stake-sale-in-400-million-deal-11719205970630.html\" style=\"\" rel=\"noopener\">Mint<\/a> reports. Beijing\u2019s Asian Infrastructure Investment Bank, Australia\u2019s Macquarie Group, Japan\u2019s Sojitz Corporation, Mitsubishi Heavy Industries, Marubeni Corporation, and Malaysia\u2019s Gentari were all in the running and had signed NDAs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Global players crowd India\u2019s hydrogen play: <\/strong>IFC, which holds a USD 8 bn India portfolio, is raising annual commitments to USD 10 bn by 2030, as per the business daily. Siemens has been scaling its India footprint in electrification and automation after buying New Delhi-based <a target=\"_blank\" href=\"https:\/\/cselectric.co.in\/\" style=\"\" rel=\"noopener\">C&S Electric<\/a> for USD 310 mn. Fullerton, active in India since 2007, recently backed mobility firm <a target=\"_blank\" href=\"https:\/\/routematic.com\/lp-routematic-employee-transport-solution\/?utm_source=paid_search&utm_medium=google_search&utm_campaign=brand&utm_term=routematic&utm_term=routematic&utm_campaign=Lead+Gen+Search+-+Brand+-+Top+Cities+India+-+06th+May+2024+%232&utm_source=adwords&utm_medium=ppc&hsa_acc=9189898843&hsa_cam=22519778810&hsa_grp=180137495178&hsa_ad=750680969174&hsa_src=g&hsa_tgt=kwd-369836143110&hsa_kw=routematic&hsa_mt=b&hsa_net=adwords&hsa_ver=3&gad_source=1&gad_campaignid=22519778810&gbraid=0AAAAApjQc6V93r8qJzhQyeiiGSC99ZL5Y&gclid=Cj0KCQiAiebIBhDmARIsAE8PGNLZcmRGatvtSwfLmEJKmWc_RHbtInf5_6LKlz41v58yHr9oieO91WAaAtFpEALw_wcB\" style=\"\" rel=\"noopener\">Routematic<\/a> through its carbon-focused fund. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Gurugram-based firm has emerged as a frontrunner as India targets 5 mn tonnes of green hydrogen by 2030<\/p>\n","protected":false},"author":1,"featured_media":85055,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2433],"tags":[2402,2430,2426,2425,2427,2429,2432,2411,2431,2428],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-85054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-enterpriseam-india","tag-fullerton","tag-green-ammonia","tag-green-hydrogen","tag-hygenco","tag-ifc","tag-ma-watch","tag-renewables","tag-sbi-ventures","tag-siemens","wpautop","entry"],"acf":{"mongo_id":"c7485d5c-09e1-4445-b86d-df9e51151430","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/11\/1469.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Global investors circle Hygenco as India scales green hydrogen","related_issue":[85040],"teaser":"The Gurugram-based firm has emerged as a frontrunner as India targets 5 mn tonnes of green hydrogen by 2030","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/11\/.ceb06680-7f46-4520-ad9f-82a771147054.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Hygenco nears USD 125 mn equity deal with IFC, Siemens, Fullerton - MENA India Corridor<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/mena-india\/2025\/11\/19\/hygenco-nears-usd-125-mn-equity-deal-with-ifc-siemens-fullerton\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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