Matrix Gas & Renewables, a subsidiary of Gensol Group, is gearing up for an Initial Public Offering (IPO) in India to raise between ₹10-12 billion ($119-143 million). This IPO will support the company's expansion into green hydrogen and gas infrastructure. The move aligns with India's focus on increasing renewable energy usage and meeting decarbonization goals. Matrix is particularly concentrating on developing large-scale green hydrogen projects with the aim of reaching 1,000 MW of green hydrogen production in the next three years. The company has collaborated with Gensol Engineering to create India's first Green Hydrogen Valley in Pune, Maharashtra. The project will produce green hydrogen through electrolysis for the specialty chemicals sector under a 20-year agreement. Prior to the IPO, Matrix secured ₹350 crore ($42 million) in pre-IPO funding from investors to drive growth in gas aggregation, acquire city gas distribution assets, and establish a hydrogen electrolyzer manufacturing plant. This plant, developed in partnership with Gensol, will play a vital role in expanding production capacity and reducing green hydrogen costs. Matrix plans to fund its projects with 70% debt and 30% equity to ensure financial stability while preparing for a ₹35 billion capital expenditure to enhance its renewable portfolio. The upcoming IPO is set amid strong interest in India's renewable energy sector, supported by government initiatives such as the National Green Hydrogen Mission. Matrix's strategic focus on green hydrogen and alignment with global decarbonization trends positions the company as an attractive investment. Besides green hydrogen, Matrix is also investing in technological advancements for green steel and green ammonia production, aiming to lead India's transition towards low-carbon industries.