Action in “Infrastructure Enablers”
With infrastructure slated for high growth and PE funds, which cannot make investments in core infrastructure owing to their “growth equity” nature, a lot of action is seen in the ancillary or “infrastructure enabler” space.
Recently, Clearwater Capital hiked its stake in Diamond Cables by purchasing 2.2% stake for around Rs 10 crore through the secondary market which took its total holding to 13.77%. Originally an electrical products maker, the company diversified into a manufacturer of power transmission equipment and turnkey services provider (EPC).
NYLIM Jacob Ballas India Fund III, LLC, a Mauritius-based private equity vehicle dedicated to India, infused Rs 152 crore into SEW Infrastructure Ltd, an engineering, procurement and construction (EPC) company in Hyderabad.
Axis Private Equity already has investments of Rs 126 crore in Delhi-based railway line manufacturer Harish Chandra India Ltd (HCIL) and Rs 60 crore in Vishwa Infrastructures and Services, which executes projects in the water supply and sanitation sector.