SIDBI Venture Capital has picked up an undisclosed stake for an investment of Rs 15.72 crore ($3.5 million) in Coimbatore-based auto components company Indo Shell Mould Ltd. The Rs 158-crore company manufactures ferrous and non-ferrous shell moulded casting components for two-wheeler automobile industry, hydraulic industry and home appliances.

The investment is from SIDBI Venture Capital’s SME Growth Fund, which has a corpus of Rs 500 crore contributed by eight banks. The SME Growth Fund has so far invested in nine companies (involving commitment of Rs 120 crore), which includes Bravo Healthcare Ltd of Mumbai, Carzonrent Pvt Ltd, a car rental company.

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Posted on 05/30/06, 8:31 PM
in: Deals, Main Page, Private Equity
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