India Venture Advisors Invests R40Cr In Tulsi Castings
by Charmi Gutka
Piramal Group's PE fund - @IndiaVenture_TrustFundI 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.
Hyderabad-based CVR Group unit Navayuga Power may sell stake in its power assets to Toshiba, Sumitomo, Mitsubishi & GDF Suez. The deal Value expected to be in between INR 13,800 to 14,400 Mn for equity stake 49 to 51%.
DealCurry tracks financial and corporate markets for events, interprets and integrates the information in our platform, providing premium data, news and analytics. DealCurry provides comprehensive coverage of the capital markets through an intuitive, user-friendly interface.