3i Group Invests $61Mn In Supreme Infrastructure
3i India Infrastructure Fund is investing $61 Mn for minority stake in a portfolio of road BOT companies of Supreme Infrastructure India Limited.
Ernst & Young was the sole advisor to Supreme Infra.
Founded in 1983 by Bhawani Shankar, Supreme Infra is a construction and infrastructure company focused on roads, bridges, power, water, railways and civil construction.
It has built over 400Km of highways and currently has an order book of R5700Cr of which unexecuted order book is R3750Cr.
Supreme Infra secured two new road BOT projects in December last year. It secured the project for developing the outer ring road in Jaipur city. The project was won by Supreme Infrastructure India Ltd. and its JV partner Constructora Spain S.A.. The cost of the project is estimated at R1,045Cr and will be a 60:40 JV between Sanjose and Supreme Infra. It also secured the Patiala Malerkotla Road project.
Supreme Infrastructure on BSE
The $1.2 billion 3i India Infrastructure Fund invests in power, road, ports and airports.Last March, it invested $45 Mn (around Rs.200 Cr) for a minority stake in Ind-Barath Energy (Utkal) Ltd, a subsidiary of Ind-Barath Power Infra Limited (IBPIL). It also invested R500Cr (BOT) road projects of Hyderabad-based KMC Constructions Limited.
Since inception, the Fund has invested in Adani Power Ltd, Soma Enterprises Ltd, Krishnapatnam Port Company and GVK Energy Ltd.
Other road developers are also looking to raise PE funding for their road projects. Mumbai based Atlanta Infrastructure Development and Real Estate is planning to raise upto R200Cr by selling upto 26% stake in it's road unit - Atlanta Infra Assets Limited to a strategic investor on PE players.
Hyderabad based IVRCL Assets and Holdings and other companies may sell road projects awarded to them by the National Highways Authority of India. IVRCL may sell majority stake in its operational projects, Kumarpalayam-Cheng palli and Salem-Kumarpalayam in Tamil Nadu.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 2012-01-30 | Supreme Infrastructure - 3i India Infrastructure | Private Equity |
3i India Infrastructure Fund |
61.00 |
| 2007-09-26 | Supreme Infrastructure India Limited - IPO | IPO / Offerings | 9.45 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 06/12/2012 | Private Equity | Standard Chartered Private Equity Limited | Ocean Sparkle Limited | 36.65 | Completed |
| 20/11/2012 | Private Equity | JP Morgan Partners | Andhra Pradesh Expressways Limited | 96.42 | Completed |
| 10/10/2012 | Private Equity | ICICI Bank Limited | IL&FS Engineering and Construction Company Limited | 5.61 | Completed |
| 13/08/2012 | Private Equity | SBI Macquarie | Ashoka Concessions Limited | 150.00 | Completed |
Fund |
||||
| Name | Corpus | Target Sector | Website | KeyContact |
|---|---|---|---|---|
| 3i India Infrastructure Fund | 1200 | Infrastructure Energy Education Cleantech Defence |
http://www.3i-infrastructure.com/about_portfolio_india.php | Girish Pankaj BaligaDeepak BaglaShrikant BahadkarManu ChandraAnjali GuptaDeepak MittalSamir PalodAmit SabooSaurabh Shah |
Company | ||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Supreme Infrastructure India Limited |
Bhawanishankar H Sharma Vikram B Sharma Vikas B Sharma |
Supreme House, Plot No.94/C, Pratap Ghad, Opp. I.I.T Main Gate, Powai | http://www.supremeinfra.com | |
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