GR Infraprojects Raises Rs 80 Cr From Motilal Oswal PE, IDFC Fund
Udaipur-based GR Infraprojects Ltd has raised Rs.80 Cr from Motilal Oswal Private Equity Advisors (MOPEA) and Hybrid Infrastructure Portfolio managed by IDFC Investment Advisors Ltd. The PE funds have bought a minority stake in the company.
The funds raised will be used for Shillong bypass project, other EPC projects and to meet working capital requirements.
Singhi Advisors acted as the advisor to the deal.
Transaction Reference: The Economic Times
Founded in 1965 by Ghumani Ram Agarwal, GR Infraprojects was formerly known as G.R. Agarwal Builders & Developers Ltd and the name was changed to GR Infraprojects in August 2007.
The company is mainly engaged in EPC for roads, toll projects and emulsion plants. Company has executed projects in Rajasthan, Gujarat, Madhya Pradesh, Haryana, UP, Bihar, Himanchal Pradesh and Jharkhand.
The EPC division claims to have executed over 162 projects in the last 10 years totaling Rs.1,000 Cr and has an unexecuted order book of Rs.2,000 Cr. The company’s ongoing projects include Moradabad – Bareilly NH-24, Hazaribag – Ranchi NH-33, Alwar – Bhiwari SH-25 among others.
GR Infraprojects has signed a concession agreement with the National Highways Authority of India (NHAI) to develop the Shillong bypass in Meghalaya.
MOPEA, a PE arm of Motilal Oswal Financial Services Ltd, manages Rs.750 Cr fund. It has investments in companies like Govardhan, Minda, Cremica, among others.
IDFC Hybrid Infrastructure Portfolio is a Rs.500 Cr portfolio fund launched in 2009. The fund invests in infrastructure companies for a span of 4-5 years.
Recently, Nandi Infrastructure Corridor Enterprises (NICE) raised Rs.500 Cr for 8% stake from PE fund Airro Holding V Mauritius, a part of JP Morgan Chase, to part-finance its Bangalore Mysore Infrastructure Corridor (BMIC) project.
| Readers' Comments | Post a Comment >> |
KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 10/03/11 | GR Infraprojects - Motilal Oswal, IDFC Hybrid Infrastructure | Private Equity | India Business Excellence Fund | 17.73 |
| Date | Type | Buyer | Target | Size ($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 |
Fund |
||||
| Name | Corpus | Target Sector | Website | KeyContact |
|---|---|---|---|---|
| India Business Excellence Fund | 125 | BFSI Consumer Goods Education Food & Beverage |
www.motilaloswal.com/Private_Equity | Abhishek PoddarRamesh AgarwalPravin JainCyrus VacchaSohail BengaliHrishikesh Parandekar |
| IDFC Hybrid Infrastructure Portfolio | 110 | Infrastructure Energy Telecom |
http://www.idfcia.com/hybrid_infrastructure.asp | |
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| G R Infraprojects Limited | Gumani Ram Agarwal & Family | GR House, Hiran Magri, Sector No.11 | www.grinfra.com | |
 |
Singhi Advisors |
| Dealforwards |  |
| May 11, 2012... | Panasonic Acquires 76.2% In Firepro Systems |
|
| May 14, 2012... | OCS Systems Acquires Lighthouse Funds Backed Radiant Hospitality |
|
| May 14, 2012...1 |  |
India Value Fund May Invest Upto R500Cr In Manipal Hospitals |
| May 14, 2012... | Jain Irrigation Acquires NaanDanJain |
|
| May 11, 2012... | EWDL To Raise R250Cr Through PE Route |
|
