Project-led entry
Investment enters the dedicated first-plant SPV, with defined economics and dilution boundaries.
Tejomay investor information · Current raise
₹6 crore for 6% in the first 5 TPD project SPV.
A project-led entry into Tejomay's first Rajasthan CBG asset, supported by OMC interest, an identified promoter-family land base and a model designed for replication.
₹6 Crequity subscription6%fully diluted ownership5 TPDPhase 1 capacity5 LOIsBPCL interest
The investment thesis
One operating asset. A wider platform blueprint.
Phase 1 is intended to establish the technical, feedstock and commercial model before later plants are financed separately.
Market-linked output
Five BPCL letters of intent support the market case within India's CBG ecosystem.
Rural circular value
Local biomass becomes clean gas and potential bio-fertiliser while creating farm-side demand and income.
GOBARdhan 2026 · Investor update
₹6 crore for 6% remains unchanged.
The new national CBG framework does not change Tejomay's equity offer. It can strengthen the financing and operating environment around the project through potential capital assistance, a clearer price benchmark, structured offtake and an eligible credit-guarantee route.
Read the policy impact analysisPotential capital assistance
Up to ₹2 crore per TPD means a theoretical ceiling of ₹10 crore for 5 TPD, subject to eligible costs, milestones and sanction.
Stronger demand visibility
The offtake-assurance framework supports firm CGD-led contracting rather than relying only on broad market interest.
More financeable debt structure
Qualifying MSME projects can seek guarantee cover for up to 85% of eligible term debt under the scheme.
Execution still matters
Plant registration, permits, land rights, equipment eligibility, performance and reporting remain essential to receiving and retaining support.
Policy support is not automatic and has not been represented as sanctioned to Tejomay. Investor returns remain subject to project execution, diligence and definitive agreements.
Indicative transaction
Two financing paths, clearly separated.
The primary offer is ₹6 crore for 6%. A larger all-equity route may be discussed independently at about ₹20 crore for 20–25%. Debt, where used, remains secured, interest-bearing and repayable.
Investment vehiclePhase 1 project SPV only
Primary equity subscription₹6.00 crore
Investor ownership6% fully diluted
Reference valuation₹94 Cr pre / ₹100 Cr post
Separately structured debtUp to ₹16.87 crore
Larger all-equity alternativeAbout ₹20 crore for 20–25%
Future plants includedNo automatic rights
Maximum contemplated dilution25%
Indicative plant economics
The modeled operating case.
Figures are management projections from the current indicative valuation materials and remain subject to diligence.
Current readiness
Evidence in place—and work remaining before close.
Commercial interest
Five BPCL LOIs support the market case. Definitive plant-wise contracts remain part of development.
Land base identified
Approximately 15 hectares of promoter-family land, with an indicative ₹13–14 crore collateral value, remains subject to title and lender diligence.
Promoter commitment
The model includes a ₹3 crore promoter cash contribution alongside the proposed investor and debt capital.
Execution workstream
Engineering, permits, feedstock contracting, EPC terms and lender discussions progress toward financial close.
External assessment · HySights
The project review, published in full.
HySights assessed Tejomay's Rajasthan compressed-biomethane project as of 29 July 2026. We are publishing both supplied reports so potential partners can review the positive factors and the development risks directly.
- Land for the first project is identified as acquired and converted for industrial use.
- The proposed technology stack is proven and commercially available in India.
- National CBG policy support and potential Bioenergy CFA eligibility strengthen the context.
- Execution risk is high because this would be the sponsor's first commercial plant.
- Timing and feedstock risks remain moderate to high at the current development stage.
- Offtake risk is high while commercial terms remain non-binding and under negotiation.
3-page external assessment
HySights Project Ratings
Project background and HySights' analysis of sovereign, execution, timing, location, feedstock, offtake, technology and design risk.
Open full PDF2-page asset-deal profile
HySights Deal Flow Intelligence
The project opportunity, capital requirement, technology pathway, feedstock plan, policy support and portfolio context.
Open full PDFThe reports are reproduced as supplied. The analysis and ratings are HySights' views and do not constitute an endorsement, investment advice or a solicitation to invest. Investors should conduct independent due diligence.
Begin due diligence
Review Tejomay's Phase 1 project with the founder.
This information is indicative, subject to due diligence and definitive agreements, and does not constitute a public offer or investment advice.