Chrys Capital picks 11 pc stake in Redington for Rs 67 cr

Mumbai, Mar 21 (UNI) Chrys Capital, a private equity firm , has bought over 11 per cent stake for Rs 67 crore in Chennai-based Redington (Incdia) Ltd, a supply chain solution providers in the IT and telecom space.

Redington, which runs operations in 17 countries in South and West Asia besides having 40 offices in India, clocked revenues in excess of Rs 5,500 crore in the current financial year, a company release said today.

Redington MD R Srinivasan said Chrys Capital by taking a stake in the company has got an exposure not only in the booming Indian market but also in the high growth markets in the Middle East, adding over 40 per cent of Redington's revenues are from overseas markets.

Chrys Capital MD Brahmal Vasudevan said, '' We view the supply chain sector in large countries like India and difficult logistical countries like Egypt, Jordan and Africa to constitute great investment opportunity. We are happy to have had the opportunity to invest in Redington.'' UNI SA AG1503