Power India found that the Chennai based Wind Turbine manufacturer, Regen Powertech, has raised arond Rs. 52 Crs from to Private Equity (PE) firms for its upcoming manufacturing plant in Udaipur, Rajasthan.
The PE Firms which have invested in Regen Powertech are:
- TVS Capital, jointly promoted by the TVS and Shriram Groups has invested Rs. 35 Crs (1.95% stake in the company)
- Summit FVCI, a fund advised and managed by M Cap Advisors has invested Rs 15 crore (0.79% stake in the company)
As said by R. Sundaresh, Joint MD, Regen Powertech:
“We have diluted around 2.81% stake for the investments. M Cap Advisors, who had already invested Rs 40 crore, have now raised their investment to Rs 55 crore, through Summit, FVCI,”
Promoted by Nuziveedu Seeds Group, ReGen Powertech has a strategic alliance with Vensys Energy AG, and sells its wind turbines under a licence from and under the brand name of Vensys.
Sundaresh also confirmed that the company’s plans to get listed on the bourses were on course as well, and it expected to close the current fiscal with consolidated revenue of Rs Rs 4,000 crore, up from Rs 2,500 crore in the previous financial year.
-----------------------------------
Power India – A popular blog on Indian Power Sector
No comments:
Post a Comment