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Construction is getting hotter. Hyderabad-based B Seenaiah & Company (Projects) Ltd (BSCPL), a construction company specialising in highway and irrigation projects, have received Rs 150 crore in private equity from New Vernon Private Equity Ltd, and from a group led by Tiger Veda Management and Touradji Capital Management. The PE firms have picked up 19 per cent. Infrastructure Development Finance Company Ltd (IDFC) acted as exclusive financial advisor to BSCPL for the investment. [Via Sify]

The Economic Times reports that the company is likely to go in for another round of investment from firms like Goldman Sachs, ahead of an IPO scheduled for the last quarter of 2006. BSCPL has an order book worth Rs 2,000 crore in the road sector and Rs 615 crore in irrigation. It's also forayed into real estate.

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