Valecha Infrastructure To Raise $25 Million
Valecha Infrastructure, the wholly-owned subsidiary of publicly listed construction company Mumbai-based Valecha Engineering, plans to raise about Rs 100 crore ($25 million) by divesting 40 per cent stake to private equity firms. Valecha is a construction company present in highways, runways, bridges, power plants, dams, tunnels, buildings and canals.
A PTI (via LiveMint) report quotes Valecha Engineering Managing Director Jagdish Valecha as saying that two “PE players - one from India and another from overseas - have evinced interest to pick up stake in the company”. They plan to close the deal shortly.
The company is targeting orders worth Rs 1,000 crore ($250 million) with this investment from three verticals - transport, power and real estate. Valecha Infrastructure has formed three special purpose vehicles for this.
