Private Equity(PE) firm Citigroup Venture Capital International (CVCI) is picking up a 17.7% stake in Hyderabad-based infrastructure company Coastal Projects for Rs 178 crore, a person with direct knowledge of the transaction told ET. The investment would be routed through CVCI’s Mauritius-based growth funds Client Ebene and Employee Rosehill. Both the funds are registered with Sebi and part of their stake acquisition would come in fresh shares, the person said, but refused to part with more details like the ratio between existing and new shares that the Citi funds would acquire. CVCI’s funds would help Coastal Projects to expand across the country and ramp up its work in several areas in underground excavation, including hydro-electric projects, rail tunnels and other road works.   more »