IFC is planning to invest $130 Mn in INOX Renewables Limited, a subsidiary of Gujarat Fluorochemicals Limited.
The funds raised will be used to fund 400 MW of wind projects in the states of Rajasthan and Gujarat.
IFC's proposed investment involves equity investmentof $40Mn in IRL and senior debt of $90Mn.
Incorporated in 2010, INOX Renewable is a part of INOX Group which has interest in diverse businesses including Industrial Gases, Refrigerant Gases, Fluoro Chemicals, PTFE, Renewable Energy, Cryogenic Equipment and Entertainment. Gujarat Fluorochemicals and Inox Leisure are also a part of Inox Group.
Myntra, part of the Flipkart Online Services Pvt Ltd, has acquired the online fashion platform Jabong from the Global Fashion Group. The $70 million deal will see the creation of one of the biggest online fashion platforms in India. The combined online retailers will have the distinction of becoming the largest e-commerce marketplace in the country.