New Silk Route (NSR), a Mauritius–based private equity firm focused on the Indian subcontinent, has appointed Sanjeev Chachondia as its operating partner. He will be based out of Mumbai.
The appointment is part of company's plan to emphsize more on the Indian market, said the company in a statement. NSR currently has three Indian companies from telecom space in its portfolio. The companies include Hyderabad-based Aster Infrastructure Pvt Ltd, a passive telecom infrastructure provider for mobile services; Aster Teleservices Pvt Ltd, an engineering firm creating infrastructure for telecom networks and power distribution in India; and Mumbai-based Reliance Infratel Ltd, a telecom infrastructure provider engaged in the business of building, operating, and leasing wireless communication towers and related assets.
On Chachondia appointment, Parag Saxena, CEO, NSR says, "The telecom industry is a vibrant sector that has great potential for high level of investment activity. We are thus confident of leveraging Sanjeev’s expertise and knowledge to help us build on to the firm’s growth plans in this sector."
Prior to his joining in NSR board, Chachondia was the chief executive officer of Loop Mobile India Ltd, formerly BPL Mobile Communications Ltd. Earlier, he worked with Essar Telecom Infrastructure Pvt Ltd and Tata Teleservices Ltd.