Beacon India Private Equity Invests Rs 75 Crore In Delhi's A2Z Maintenance
Wed, 09/12/2007 - 08:10 — Sahad P VDelhi-based company A2Z Maintenance & Engineering Services has received Rs 75 crore ($19 million) investment from Beacon India Private Equity Fund. A2Z is an engineering, procurement and construction (EPC) company. It has presence in setting up electricity distribution infrastructure such as substations and hitension cables.
The privately listed company has investment from investor Rakesh Jhunjhunwala. The company is founded by Amit Mittal, an IIT graduate. A2Z is believed to be a fast growing engineering company and has taken advantage of the reforms in the power sector. According to PTI, the company recorded a turnover of Rs 182 crore last year and registered a compounded growth of 446 per cent.
Beacon India Private Equity Fund has a corpus of $200 million is managed by Deepak I Shahdadpuri (based out of Mumbai) and Rajiv Thakur (Delhi). The fund is sponsored by Dubai-headquartered Baer Capital.
September 12, 2007
There is a slight mistake with the currency conversion. I believe 75 crores is $18MM and not $37.5MM.