Hyderabad-based engineering, procurement and construction (EPC) services company SEW Infrastructure Limited has received Rs 152 crore as an equity investment from NYLIM Jacob Ballas India Fund III, LLC, a Mauritius-based private equity investor. Daiwa Capital Markets acted as advisers to SEW on this transaction.
The infusion of funds will help the company strengthen its balance sheet further enabling it to bid for larger projects. SEW will use the funds to meet its capital expenditure and working capital requirements as also to part finance the equity contribution for its five hydro power projects to be developed in separate special purpose vehicles, SEW managing director, V Rajasekhar, stated in a press release.
According to Sunil Chawla, partner, Jacob Ballas Capital India Private Limited, investment adviser to NYLIM-JB Fund, SEW is ideally positioned to capitalise on the India infrastructure growth story given the company’s superior execution skills and strong order book.
Chawla has joined the board of directors of SEW.
SEW is a 50-year-old company and has 5,000 employees. The company, which has recently diversified into power transmission projects, stated it was expecting a turnover of about Rs 1,825 crore for the financial year 2009-2010.
