New Delhi, Sep 18 (UNI) BTS India Private Equity Fund Ltd today said it will invest Rs 32 crore in Hyderabad-based Saisudhir Infrastructures Ltd.
BTS has entered into an agreement with Saisudhir to invest Rs 32 crore in the latter's business.
''The investment will focus on Saisudhir's next phase of growth and expanding engineering capacities along with providing working capital for completing medium to large infrastructure projects,'' a company statement said.
With this investment, BTS has concluded six investments from its recently launched BTS India Private Equity Fund, it added.
''The investment will help achieve the company's long-term objective of becoming one of the preferred EPC companies in its focus areas of water supply, solid waste management and power sector,'' BTS Investment Advisors Pvt Ltd Managing Partner K Srinivas said.
The current round of capital raising is a step towards undertaking larger projects and to take up the company towards its target of crossing Rs 500 crore in sales within the next couple of years, Saisudhir Managing Director D Sreedhar Reddy said.
Saisudhir has bagged some large water-based projects from the governments of Andhra Pradesh and Karnataka.
It plans to participate in the bidding for large upcoming water-based and solid waste management projects being tendered in various states.
Going forward, it also plans to enter the T &D sector and intends to set up full fledged operations for the same as well as undertaking BOOT projects.
UNI SR SBA GC1835