New Delhi, Jun 25 (UNI) Shriram EPC today said Mauritius-based Frontline Strategy's India Industrial Growth (IIG) Fund has picked up a 26 per cent stake in Shriram SEPL Composites, a joint venture of Shriram EPC and Strategic Engineering.
This is the first investment from the SME-specific IIG Fund, a company statement said.
Frontline Strategy is a Fabiani family office-anchored asset management company with prime focus on private equity investments.
''The investment in Shriram SEPL Composites is a continuation of the company's focus on investing in companies with global scope and capability,'' said Frontline Strategy Managing Partner Atim Kabra said.
Shriram SEPL would manufacture next-generation glass fibre reinforced plastic pipes, the internationally preferred alternative to steel and concrete pipes for water and sewage and on-ground oil and gas pipelines, it added.
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