RSS FeedBessemer Venture Partners Invests $22.2 Million In Shriram EPC For 33.33% Stake
Fri, 03/31/2006 - 04:35 — Sahad P V
Bessemer Venture Partners has picked up a 33.33 per cent stake in Chennai-based Shriram EPC Ltd for a consideration of Rs 100 crore ($22.2 million). Shriram EPC is into construction of steel plants, biomass and wind-based power projects, water treatment plants and cooling towers. It will end the current financial year with a turnover of Rs 150 crore, and expects to touch Rs 400 crore next year. Shriram EPC is part of the Chennai-based truck financing firm Shriram Group, which had got $100 million funding from Newbridge Capital. [The Hindu Business Line; Via Sify]
In India, BVP has invested in Rico Auto, BA Systems and Sarovar Hotels.
I think this was a good price for a 33.3% stake in Shriram EPC