SEW Infrastructure today said it has received Rs 152 crore as equity investment from NYLIM Jacob Ballas India Fund III, LLC, a Mauritius-based private equity investor.
Daiwa Capital Markets acted as advisor to SEW on this transaction.
“The infusion of funds will help the company strengthen its balance-sheet further enabling it to bid for larger projects,” SEW's Managing Director V Rajasekhar said.
“SEW will use the funds to meet its capital expenditure and working capital requirements as also to part-finance the equity contribution for its five hydro-power projects to be developed in separate SPVs,” Rajasekhar said.
SEW is a diversified engineering, procurement and construction services company with a special focus on the irrigation and hydropower segments.
Source: Business Standard