The InoxGFL Group, an Indian conglomerate with presence across chemicals and renewable energy segments is aiming to become a group with zero net debt over the next two to three quarters.

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In a move towards this direction, the group has raised nearly Rs 1,500 crore within the last fortnight.

Speaking to CNBC-TV18 on Thursday, Devansh Jain, Executive Director of the InoxGFL Group said that they have cleared Rs 1,350 crore of Group debt cumulatively. It raised Rs 720 crore by selling 2 percent of the promoter holding as well as infused Rs 623 crore into Inox Wind to strengthen the company's balance sheet.

Jain mentioned that post the clearing of this debt, the leverage of the group has come down to 0.15 percent.

The InoxGFL Group is primarily focused on two business verticals – chemicals and renewable energy, comprising fluoropolymers, specialty chemicals, wind energy, and renewables. The group operates in these segments primarily through four publicly listed companies, namely Gujarat Fluorochemicals Ltd (GFL), Inox Wind Energy Ltd, Inox Wind Ltd and Inox Green Energy Services Ltd.

Jain further added that the group is not looking to sell any more promoter stake of Gujarat Fluoro. However, they do expect to sell the last Special Purpose Vehicle (SPV) on Inox Wind's books in the next few months.

Inox Wind currently has net debt of Rs 950 crore which the group intends to bring down to Rs 500 crore by financial year 2024.

Shares of Inox Green Energy ended 1.1 percent lower at Rs 57.10.