IDFC Private equity (IDFC PE) has invested Rs.150 Cr in Chennai-based GVR Infra Projects Limited for minority stake.The funds raised will be used by GVR Infra for projects in engineering and contracting space that includes the roads sector. Veda Corporate Advisors was the advisor to GVR on the deal.
This is IDFC PE's third investment in the roads sector. Earlier, it has invested in L&T Infrastructure Developers and Ashoka Buildcon.
IDFC has made 33 investments and has invested in companies like GMR Infrastructure, Gujarat State Petronet, Delhi International Airport,Manipal Global Education, Moser Baer Solar Limited and Viom Networks.
Incorporated in 2001 by G Venkateswara Rao and Ganga Prasad, GVR Infra Projects is the flagship company of the GVR Group.GVR Infra apart from having a portfolio of five BOT projects also handles EPC orders and projects in urban infrastructure, railways and irrigation sector in over eight states.
GVR portfolio projects include Hyderabad's Outer Ring Road project, Hubli-Lakshmeshwar (SH-73) in Karnataka and Bangalore-Hosur (NH-7) among others.
This year in March, 3i Group invested Rs.500 Cr in build-operate-and-transfer (BOT) road projects of Hyderabad-based KMC Constructions Limited. | July 25,2011 - 11:58 AM
Transaction Reference: Economic Times
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