SU-KAM plans to use the funds to continue its expansion in the global market. |
Reliance Energy India Power Fund, a private equity joint venture set up by Reliance -Anil Dirubhai Ambani Group (R-ADAG) and Temasek Holdings, has made its first investment in India by acquiring 20 per cent equity in Su-Kam Power Systems for Rs 45 crore. |
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Su-Kam plans to use the funds to continue its expansion in the global market, according to a press release. |
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The company is expanding its exports and is currently marketing its products in the Gulf countries and Africa. It is also eyeing markets in Europe and the US. |
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The company expects to close this financial year with Rs 200 crore in revenue. Kunwer Sachdev, CEO, Su-Kam, said, 'This endorsement by Reliance Energy India Power Fund will help us realise Su-Kam's full potential and grow it into one of world's leading players in the power industry.' |
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A representative of Reliance Energy India Power Fund, said, 'India's power industry is an exciting and rapidly growing sector. We look forward to working with them to leverage our networks and experience across various industries to facilitate their transformation into a leading global company.' |
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Su-Kam was founded in 1989 by Sachdev, a first generation entrepreneur. It makes power inverters, uninterrupted power supply (UPS) systems, on-line UPS, inverter batteries and SMF batteries. It claims to have 30 per cent share of the organised market. |
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The company has over 4,000 dealers and nearly 200 service centres spread all over the country. Reliance India Power Fund is a $200 million fund that seeks to invest in promising companies in the Indian power sector. The fund is managed by Reliance Capital Asset Management Ltd. |
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PricewaterhouseCoopers was the financial advisor to Su-kam on the deal. |
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