Reliance India Power Fund has acquired a 15% stake in KRYFS Power Component for an undisclosed sum. Reliance India Power Fund is a 50:50 JV between the Reliance-ADAG financial services subsidiary Reliance Capital and Singapore-based private equity firm Temasek Holdings. The corpus of the fund is $200 mn and has been set up to invest in Indian power ancillary companies. Su-Kam Power Systems, EMI Transmission, and Ravin Cables are some of its investee companies.
The fund invested Rs. 45 crores in Delhi-based Su-Kam Power Systems for a 20% stake and Rs. 50 crores in Mumbai-based EMI Transmission, an unlisted power equipment company, for a 23% stake.
KRYFS Power Component is a Rs. 300-crore manufacturer of transformer cores and patented sling-set twin path slings. It will utilize the funds for capacity expansion and diversifying into newer businesses through organic and inorganic means. The company manufactures high-tenacity fiber slings in collaboration with Slingmax, Inc. of USA and currently has a capacity to produce nearly 12,000 mt of transformer cores, wound cores and built up cores.
Read The Economic Times article for more details.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment