Era Infra Plans Rs 750 Cr QIP, PE Funding
Era Infra Engineering Ltd is planning to raise Rs 750 Cr through QIP and PE to implement the national highway projects.
It has won three national highway projects in last one year on a BOT basis, in a 76:24 partnership with Russian firm OJSC-Sibmost.
Era Infra, the flagship company of the Era Group of companies is an infrastructure player which operates in four divisions of construction and contract division; EPC and international division; ready mix concrete division; and equipment management division.
Transaction Reference: BL
The three national highway projects are, Muzaffarnagar-Haridwar highway (total cost of Rs 1,125 Cr),Haridwar-Dehra Dun stretch (total cost of Rs 735 Cr) and Sitapur-Bareilly project (Rs 1,723 Cr, 20-year).
The company has 61 projects — in sectors including roads, railways, metro rail, power and social infrastructure — across 21 States. It has four equipment hubs — in Hyderabad, Mumbai, Kolkata and Delhi.
It is also bidding for metro rail projects in Bangalore and Chennai.
Past few months has seen some fund raising plans by infrastructure companies. Madhucon Infra is raising Rs 300 Cr through NCD to fund its road, power and coal mine projects. Reliance Infrastructure has planned to raise around Rs.2,600 Cr for the Bandra-Worli-Haji Ali Sea Link project in Mumbai, IVRCL Infrastructures and Projects Ltd is looking for a strategic investor in its SPV for Maharashtra-Goa highway project worth Rs.3,100 Cr, HCC has planned to raise upto Rs.500 Cr to fund its capex requirements, RPP Infra has filed DRHP with SEBI to raise funds to meet its capex requirements and to invests in SPVs for BOT projects. Also, Baring PE Partners India is investing Rs 370 Cr in Oriental Tollways to be used by Oriental for its equity contribution in it's various SPVs.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 20/07/10 | Era Infra - QIP, PE Funding | Private Equity | 159.00 | |
| 24/02/06 | Era Constructions - GDR | IPO / Offerings | 30.00 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 17/05/12 | M&A | CESC Limited | Pachi Hydropower Projects Limited | - | Completed |
| 17/05/12 | M&A | CESC Limited | Papu Hydropower Projects Limited | - | Completed |
| 14/05/12 | M&A | Jain Irrigation Systems Limited | NaanDanJain Irrigation Limited | - | Completed |
| 10/05/12 | M&A | IRB Infrastructure Developers Limited | MVR Infrastructure And Tollways Private Limited | 24.39 | Completed |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Era Infra Engineering Limited (Formerly Era Constructions India Limited) | Era Housing And Developers (India) Limited H S Bharana & Family |
370-371/2, Sahi Hospital Road, Jungpura, Bhogal. |
Madhucon Infra Limited IVRCL Limited (Formerly IVRCL Infrastructures & Projects Ltd) RPP Infra Projects Limited |
www.eragroup.co.in |
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