Motilal Oswal Invests In Magicrete Building Solutions
Motilal Oswal PE managed - India Business Excellence Fund II and India Business Excellence Fund IIA are investing R35 Cr in Magicrete Building Solutions Private Limited, a manufacturer of Autoclave Aerated Concrete (AAC) blocks from Surat, India.
The funds will help the company institutionalise its business, accelerate growth and enhance brand with all stakeholders, according to BL.
Incorporated in April 2008 by Saurabh Bansal, Siddharth Bansal, Sunil Roongta, and Vinod Mittal, Magicrete Building Solutions is engaged in the manufacturing and marketing of Autoclaved Aerated Blocks (AAC). The company’s manufacturing facility is located at Navsari (Gujarat) and has a capacity of 3,60,000 cubic metres.
The company has recently forayed into offering gypsum plaster and dry mortar under the brand ‘Magicplast’ and ‘Magicbond’, respectively.
AAC blocks have emerged as an alternative to red bricks for wall construction across India, both for residential and commercial building. AAC blocks have price parity with red bricks and allow for faster execution, involving less labour, reduced construction costs and are environment-friendly.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 2013-03-19 | Magicrete Building Solutions - Motilal Oswal PE | Private Equity |
India Business Excellence Fund |
6.45 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 16/05/2013 | Private Equity | Baring Private Equity Asia Limited | Lafarge India Private Limited | 255.57 | Completed |
| 23/03/2013 | Private Equity | Blackstone Group | Sree Jayajothi Cements Limited | 101.33 | Completed |
| 19/03/2013 | Private Equity | India Business Excellence Fund | Magicrete Building Solutions Private Limited | 6.45 | Completed |
| 01/01/2013 | Private Equity | Baring India Private Equity Fund III Limited | Sintex Industries Limited | - | Completed |
Fund |
||||
| Name | Corpus | Target Sector | Website | KeyContact |
|---|---|---|---|---|
| India Business Excellence Fund | 125 | BFSI Consumer Goods Education Food & Beverage |
www.motilaloswal.com/Private_Equity | Ramesh AgarwalHrishikesh Parandekar |
Company | ||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Magicrete Building Solutions Private Limited |
Saurabh Bansal Vinod Mittal Siddharth Bansal Sunil Roongta |
02, Navkruti Apartment, Opp. ICICI Bank, Lal Bunglow, Athwalines | www.magicrete.in | |
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