Inox Clean Energy, the renewable arm of the INOXGFL Group, along with its subsidiary, Inox Solar, has raised equity totaling ₹31 billion (~$342.83 million), valuing the company at ₹500 billion (~$5.54 billion) pre-money. The equity round attracted participation from foreign and domestic investors, including the California Public Employees’ Retirement System (CalPERS), a U.S. pension fund, SUN Group Global, Authum Investment, Akash Bhansali, other family investors and high net-worth individuals. The company said it will use the proceeds to expand capacity across its renewable independent power production (IPP) and solar manufacturing verticals.