Mukul Agarwal invests in Insolare Energy; company raises Rs 66.5 crore in pre-IPO round

Insolare Energy, a renewable energy solutions company which provides wind services for onshore and offshore projects, has raised Rs 66.5 crore in its pre-initial public offering (l PO) round. The deal values the company in the at -240 crore according to merchant banking sources. Noted value investor Mukul Agarwal is among the individual investors who put money in the green energy company. In total, 4.15 lakh shares were issued at Rs 1,695 apiece. Agarwal was allotted 75,000 shares for Rs 12.03 crore. The shares have a face value of Rs 10. Post the transaction, Agarwal will hold 5.87 percent in the company. Khaza Tradelink Pvt Ltd, owned by Rakesh Kathotia, has been allotted 96,500 shares and will hold 7.55 percent in the company. Delhi-based Ankit Mittal will hold 2.62 percent after being allotted 33,500 shares. Gunavanth Vaid-owned GJNX ventures has been allotted 1,900 shares, translating to a 0.15 percent holding.