Wednesday, December 27, 2006

UTI VF invests $10 mn in Shriram EPC

UTI Venture Funds has invested $10 mn in Shriram EPC. Shriram EPC operates in the high-end engineering services sector and offers multi-disciplinary design, engineering, procurement, construction and project management services to sectors such as power, metallurgical, pipelines for water system and cooling towers.

Shriram EPC had earlier received Rs. 30 crores and Rs. 100 crores from ChrysCapital and Bessemer Venture Partners, respectively.

UTI Ventures had previously invested in this sector by way of investing Consolidated Construction Consortium which is into urban infrastructure.

UTI Ventures has been furiously investing from its Rs. 700-crore fund. During November itself, the company invested around $30 mn in 3 companies including Koutons Retail, VKL Spices and Laqshya, an outdoor media company.

Read the Business Standard article for more details.

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