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SAEL gets $20M investment from Norfund ahead of IPO
Norfund backs SAEL with $20M ahead of its IPO in clean energy domain.
Norwegian state fund Norfund has invested $20 million into SAEL Industries via compulsorily convertible preference shares ahead of its IPO. SAEL operates solar projects and module manufacturing in India. With this capital infusion, the company continues to scale its clean energy portfolio across multiple states while prepping for a public listing.