SA and IIML invests in RIL

Hyderabad, Jan 22 (UNI) Sabre-Abraaj Private Equity Fund (SA) and IL and FS Investiment Managers (IIML) today announced an investment of Rs 125 crore in Ramky Infrastructure Ltd (RIL), a Hyderabad based infrastructure construction and development company.

RIL has issued Rs 75 crore of equity amount to SA and Rs 50 crore to a fund managed by IIML.

Following the acquisition, Rajiv Maliwal of SA and Archana Hingorani of IILM had been nominated to join the Board of RIL. SA had acquired 8.1 per cent equity and IIML 5.4 per cent for Rs 1,146 per share in RIL, one of the three divisions of the group.

This was the first investment made by SA a 50-50 joint venture between Sabre Capital World Wide Inc and UAE based Abraaj Capital since they jointly launched USD 300 million. SA earlier this year would take majority or significant minority stakes in both listed and unlisted Indian companies.

For IIML, the investment in RIL would build on its present infrasturcture portfolio, which continues to be a significant part of its USD 900 plus million funds under management.

UNI