IDFC Pvt Equity invests Rs.150 crore in GVR InfraJuly 22nd, 2011 - 10:36 pm ICT by IANS
Chennai, July 22 (IANS) IDFC Private Equity has invested Rs.150 crore for an unspecified stake in city-based infrastructure development company GVR Infra Projects Ltd, an official said Friday.
“We have invested the money from our third fund. Till date, we have utilised around 50 percent of the funds,” S.G. Shyam Sundar, partner, IDFC PE, told reporters.
IDFC PE’s third fund was formed with a corpus of $644 million.
Explaining the rationale for investing in GVR Infra, he said very few unlisted engineering-procurement-construction (EPC) companies sport an order book position of Rs.4,200 crore and revenue of Rs.1,000 crore.
He said the fund was scanning for suitable player in the road sector and finally zeroed on GVR Infra.
According to S. Chandra Mohan, chief operating officer of GVR Infra, the order book of Rs.4,200 crore will see the company comfortably for the next couple of years.
- BGR Energy confident of bagging new orders - Aug 04, 2012
- Karnataka infrastructure firm to invest Rs.30 crore in new projects - Jul 12, 2010
- BGR Energy cuts capex for JVs with Hitachi - Aug 09, 2012
- Shriram EPC bags Kerala Water Authority project - May 21, 2012
- BGR Energy's Q1 sales and net profit down - Aug 03, 2012
- Sundaram Asset hopes to start Singapore operations this year - May 05, 2011
- NTPC order will be met with local, imported machines: BGR - Sep 15, 2011
- Highlights of Union Budget 2011-12 (Part-III) - Feb 28, 2011
- Star Health to raise Rs.150 crore fresh capital - Jul 31, 2012
- BGR Energy lowest bidder for NTPC's mega tender - Sep 15, 2011
- BGR Energy bags Rs.2,168 crore order - Oct 25, 2010
- Larsen and Toubro planning Rs.2,000-crore PE fund - Oct 31, 2010
- Va Tech Wabag looks for acquisitions overseas - May 27, 2011
- IKEA to invest $1.9 billion in India - Jun 22, 2012
- TEECL net profit up 24 percent in Q1 - Jul 18, 2011
Tags: chandra mohan, chennai, chief operating officer, crore, engineering procurement construction, gvr, idfc, infrastructure development, money, private equity, procurement, rationale, road sector, rs 1, s chandra, shyam, stake, suitable player, sundar