Sadbhav Infrastructure Project Ltd (SIPL), a subsidiary of Sadbhav Engineering Ltd had entered into a binding agreement to receive Rs 400 crore from Norwest Venture Partners (NVP) and The Xander Group Inc- the Global Investors, has successfully completed the transaction.
Accordingly the Investors have, on September 23, 2010, invested an aggregate amount of Rs 400 crore in SIPL by subscribing to equity and compulsory convertible preference shares.