Bhilwara Energy Limited (BEL) has approved a fundraise of up to Rs 5 billion, led by Yash Kela-led Singularity AMC.
Singularity AMC, a growth equity firm backed by investor Madhusudan Kela, has signed definitive agreements to invest in BEL. The investment will support BEL in developing an integrated energy transition platform, HEG Greentech1, focusing on power assets, battery-grade anode materials, food-grade bottle-to-bottle recycling, graphene, and advanced battery systems for energy storage and electric vehicles. The capital will be used for organic growth, new greenfield projects, and strategic acquisitions and partnerships, strengthening BEL’s role in India’s energy transition.