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SAIF Partners may invest Rs 100 cr in Anupam Group

Asian Private equity player SAIF Partners is looking to invest Rs 75-100 crore in Gujarat-based crane manufacturer Anupam Group of Industries. This will be the first round of private funding for the company.

E-mails sent to both Anupam Industries and SAIF Partners did not elicit a response. However, sources close to the development say the deal is almost signed. The amount of stake that Anupam Industries will dilute is not yet known.

Anupam Industries is one of the largest manufacturers of cranes including power cranes, grabbing cranes, steel plant cranes, construction industry cranes, refinery cranes and nuclear industry cranes in India. The company caters to several companies including Tata Steel, Essar, Jindal, NTPC, Bhel and the Aditya Birla Group.

The private placement is expected to fund the company’s expansion plans. SAIF Partners, which manages two funds with a combined corpus of $1 billion, has bought a 5% stake in NSE for over Rs 500 crore. The New York Stock Exchange, Goldman Sachs and General Atlantic have also bought stake in the exchange along with SAIF Partners. The fund has also bought stake in Chennai-based pulse processing company Asian Dhall Industries.

SAIF Partners has over 60 companies in its portfolio, of which 10 are in India and 50 companies in China. SAIF Partners makes investments in companies based in the Asia-Pacific region, with a primary focus in the Greater China Region including Hong Kong and Taiwan, India and Korea. It makes investments from the $404 million SB Asia Infrastructure Fund and the $643 billion SB Asia Investment Fund II.

Manufacturing is a big area for private equity funding, the latest being Blackstone’s Rs 255 crore investment in MTAR Technologies — nuclear and space science components company for a 26% stake. In India, SAIF Partner’s investments include SlashSupport, Sify.com, IL&FS Investsmart, Makemytrip.com and Jindal Poly Films — its first investment in the manufacturing sector.

Source: Economic Times

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