Deepak Cables India has acquired 100% stake in Adhunik Power Transmission Limited from Adhunik Metaliks Limited for an undisclosed amount.
Indcap Advisors Pvt Ltd was exclusive financial advisor to the deal.
Adhunik Power Transmission (formerly known as Unistar Galvanisers & Fabricators) manufactures transmission line towers and sub-station structures. It has approval from Power Grid Corporation of India and various other state electricity boards for manufacturing transmission line towers and sub-station structures.
Its products include tower accessories (clamps, anti-climbing devices, bird guards, U bolts, hangers etc.), ground-based and rooftop galvanised telecom towers, galvanised cable trays, perforated trays (and accessories like coupler plates, bends, fasteners etc), welded structures and masts for the railways and lightning masts, pipe structures, foundation bolts and accessories utilised in power and telecommunication. It was a wholly owned subsidiary of Adhunik Metaliks.
Financial consultant IFCI is planning to raise its second tranche of the proposed R2000 Cr fund raise by issuing secured, redeemable NCD. The tranche II would carry a base size of R250 Cr with an option to retain over subscription upto R790.813 Cr.