IDFC PE invests Rs 35cr in water mgmt firm

IDFC Private Equity Fund II, a fund managed by IDFC Private Equity, is investing Rs 35 crore to acquire shares of Doshion, a leading water management company.

The funds raised will be used to fuel further growth, including acquiring niche companies in the areas of design and fabrication of water treatment plants and for bidding for upcoming BOT and BOOT projects in the water segment.

Doshion has a pan-India presence and has executed projects in over forty countries across the world.

The company is looking at being a significant player in urban and rural water supply and treatment,as well as waste water treatment, which is slowly opening up for private participation.

"We have already made significant impact in the area of industrial and waste water treatment and hope to achieve leadership in the emerging areas of urban and rural water management projects alike."said Ashit Doshi, MD, Doshion.

The global water management market is approximately $375 billion.The Indian market is a small fraction of that number and is therfore poised for significant growth.

Industry experts believe that the Indian market should grow by 30% per annum in the foreseeable future.

Prakash Karnik, MD (Investments), IDFC Private Equity said:" We have been keen to invest in the emerging sector of water management and this is our first investment in this sector."

Doshin has reputed corporate clientele that includes BHEL,L&T,Hindustan Zinc,Dalmia Sugars,HPCL,BARC and Maruti.

IDFC PE is an infrastructure focused private equity investor which manages funds worth $630 million. Its investments include GMR Infrastructure, Delhi International Airport, Hotel Leelaventure, Gujarat State Petronet and L&T Infrastructure Development.