Matrix Gas & Renewables, a unit of Gensol Group in India, is looking to raise 10-12 billion rupees ($119-$143 million) through an initial public offering (IPO) to finance their green hydrogen projects. The CEO, Chirag Kotecha, announced the company's plans at the Renewable Energy India Expo. With the Indian IPO market at its peak, the company aims to file for the IPO next year. They are targeting the development of 1,000 megawatts of green hydrogen projects over the next three years, with a capital expenditure of 35 billion rupees. The funding for these ambitious projects will be sourced through a mix of 70% debt and 30% equity in several rounds. Indian companies, driven by the booming equity market, have witnessed a surge in IPOs this year, with over 250 companies raising more than $9 billion by September, surpassing the total for the entire previous year. Matrix Gas & Renewables' move signifies a strategic step towards sustainable energy ventures amidst the growing demand for renewable solutions.