• search

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

Written by: Staff
|

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

For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more