Franklin Templeton Asset Management (India) Pvt Ltd (FT India) announced that it's private equity arm has invested Rs. 67.5 crore in SFO Technologies Pvt Ltd, a part of the Kochi based NeST group. The other transaction details were not disclosed. Franklin Templeton Private Equity Strategy (FTPES), a private equity portfolio managed by FT India and advised by Darby Asia Investors (India) Pvt Ltd, has made the investment.
The investment is part of Rs. 166.5 crore round raised by the company from three private equity investors including FTPES for providing growth capital as well as exit to the existing investor, the release said. The identity of the other investors could not be immediately ascertained. The company had earlier raised capital from India Value Fund Advisors.
SFO, which employs about 4,000 people, is one of the largest electronic manufacturing services (EMS) players in India focused on low volume, high mix products in emerging segments such as healthcare, automotive and industrial. SFO provides services across the entire spectrum including design, manufacturing and embedded software development.
FTPES is a private equity investment vehicle which is mainly being raised from high net worth individuals in India. FTPES makes selective investments in high growth, mid-sized unlisted companies in India - in areas such as infrastructure, manufacturing, and consumer goods, and in related sectors, the release said.
Franklin Templeton manages assets worth about $733 billion as of April 30, 2011. Darby India is an affiliate of Darby Overseas Investments, Ltd., the private equity arm within Franklin Templeton Investments group.Across emerging markets private equity and infrastructure, it has over $2.6 billion in cumulative committed capital.
In India, Darby has invested in firms like Amalgamated Bean Coffee Trading Co Ltd, Bhoruka Power Corporation Ltd and Career Point Infosystems Ltd.