H.G. Infra Engineering Limited (HGIEL), a prominent infrastructure development company based in Rajasthan, India, has approved a proposal to raise ₹4 billion (~$46.5 million) through the issuance of Non-Convertible Debentures (NCDs) on a private placement basis. The decision was made during the company’s Board meeting held on July 14, 2025, and disclosed in a regulatory filing with the Bombay Stock Exchange and National Stock Exchange.
The NCDs may be secured, unsecured, or partially secured, and will be rated, listed, taxable, and redeemable. The fundraising will be carried out in one or more tranches, subject to necessary regulatory approvals. HGIEL’s Debenture Committee has been authorized to determine the structure, timing, and terms of the issue.
While the specific use of the proceeds has not been disclosed, HG Infra Engineering is actively involved in renewable energy-linked infrastructure, particularly in the development of solar power projects, Battery Energy Storage Systems (BESS), and hybrid energy solutions. The company has undertaken civil works and EPC contracts tied to India’s growing clean energy sector, aligning its portfolio with the national push toward sustainable development and net-zero goals.
H.G. Infra Engineering is developing two standalone BESS projects in Gujarat totaling 435 MW. It recently won major bids under GUVNL’s Phase IV and VI auctions and NTPC Vidyut Vyapar Nigam’s tender, securing contracts for over 850 MW of energy storage capacity.
