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MSK Projects India Ltd, a publicly listed infrastructure company, has raised Rs 33.6 crore ($8.5 million) from an Indian private equity fund Subhkam Ventures. It seems Subhkam is a new kid on the private equity block. The fund is part of Subhkam Group, which also owns broking entities Subhkam Stocks & Shares Ltd and Subhkam Securities Pvt. Ltd. Here are some details on what kind of companies will they look at investing. The group is founded in 1993 by Rakesh S Kathotia, a first generation entrepreneur.
The investment in MSK Projects has been done through its investment entity Subhkam Holding Private Limited (SHPL). It has subscribed to 4 million shares at Rs 84 per share. With this investment, Subhkam's holding has risen to 24.26 percent from the current 8.8 per cent. Since the investment has crossed the 15 per cent limit, SHPL will now make an open offer to acquire 20 per cent of equity capital from the public shareholders.
MSK Projects has raised a total of Rs 37.4 crore, while the remaining Rs 3.8 crore has been placed with other investors.