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.

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KVEZAR VIEW

  DEAL TRACKER FOR

Date	Transaction	Type	Buyer	Size ($mn)
2011-03-10	GR Infraprojects - Motilal Oswal, IDFC Hybrid Infrastructure	Private Equity	India Business Excellence Fund IDFC Hybrid Infrastructure Portfolio	17.73

 

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  Profiles

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		http://www.grinfra.com

  Advisor

Singhi Advisors

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