Asia Motor Works Limited is planning to raise $100 Mn for expansion through a mix of debt and equity.
According to ET, the funds will enable the company to build capacity to make new cabs, next generation trucks and expand manufacturing. The truck maker proposes to produce cabins locally, which were so far imported and assembled.
Asia Motor Works has recently acquired FamilyCredit Limited in an all cash deal. FamilyCredit was a wholly-owned subsidiary of Societe Generale Consumer Finance, a division of the Specialised Financial Services of Societe Generale Group, France. It offers auto loans, two wheeler loans and loyalty loans.
Pragati India Fund has invested $5Mn in Indore based Jash Engineering Ltd. It will used the funds to expand capacity, strengthen the exports business and partner municipalities to generate clean power from residual water.
Premji Invest, the private equity arm of Wipro Limited chairman Azim Premji, has purchased L Capital Asia’s 8% stake in FabIndia Overseas Pvt. Ltd. for approx. INR360 crore (US$52 million). The fund is an existing investor in FabIndia and has strengthened its stake with this acquisition.