Goldman pays $172mn for major stake in Sigma

Investment banking major Goldman Sachs will invest $172 million for a majority stake in Indian metal casting maker Sigma Electricals and its affiliated companies for majority stake.

The joint press release issued by the two companies says, "The investment by Goldman Sachs will accelerate Sigma's plans for global growth as a leading Indian manufacturer of metal castings and components".

Sigma has manufacturing facilities in Pune and Jaipur, and a distribution warehouse in Garner, North Carolina. It employes more than 1400 engineers and technicians.

Sajjan Agarwal, founder and chairman, Sigma will remain a significant shareholder and continue to focus on corporate strategy and key customer relationships.