Bangalore-based Shankara Infrastructure Materials looking to rope in strategic investor | VCCircle
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Bangalore-based Shankara Infrastructure Materials looking to rope in strategic investor 

BY  Madhav A Chanchani & Shrija Agrawal
Through the proposed stake sale, Reliance Equity Advisors will look at exiting from its investment.

Bangalore-based Shankara Infrastructure Materials Ltd is looking to rope in a strategic investor as it looks to give an exit to its private equity backer, Reliance Equity Advisors, said sources familiar with the development. The company, which makes steel pipes and tubes, has mandated Mumbai-based Ambit Corporate Finance for the transaction.

Sources said the promoters are also exploring a stake sale along with Anil Dhirubhai Ambani Group's (ADAG) private equity arm.

The development comes close on the heels of Belgium’s Aliaxis Group S.A. acquiring majority stake in Bangalore-based plastic pipe manufacturer Ashirvad Pipes Pvt Ltd for Rs 800 crore...

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