3i invests $101mn in Hyd-based Soma Enterprise

3i India Infrastructure Fund, an investment fund established by 3i Group Plc, a global private equity and venture capital company, has invested $101 million for a minority stake in Soma Enterprise, a Hyderabad-based engineering and construction firm.

Ankineedu Maganti and his family will continue to hold the large majority stake in Soma Enterprise. 

Established in 1997, Soma is one of the fastest growing infrastructure developers in India. With an order book in excess of $1.6 billion, Soma specialises in multi-disciplinary engineering, procurement and construction (EPC) contracts across segments like roads, irrigation, hydropower and urban infrastructure. The company is increasingly concentrating on developing build-operate-transfer (BOT) projects.