India Venture Advisors Invests R40Cr In Tulsi Castings
by Charmi Gutka
Piramal Group's PE fund - India Venture Advisors has invested R40Cr in Sangli based manufacturer of ductile iron castings - Tulsi Castings and Machining.
SBI Capital Markets Ltd was the sole advisor to the company for this transaction.
Tulsi Castings and Machining Limited (erstwhile Tulsi Foundries Limited) was acquired by the present management and commenced operations in the year 2004, after BM Jain and RM Jain acquired the foundry assets from SICOM Ltd.
Tulsi has a manufacturing unit at Sangli in Maharashtra with a capacity of 23950 MTPA for manufacturing spheroidal castings catering mainly to automobile sector.