Citi Venture Capital invests Rs 340 cr in Sansera Engineering

Mumbai, July 9: Auto components manufacturer Sansera Engineering today said private equity firm Citi Venture Capital International has acquired a "substantial stake" in the company by investing around Rs 340 crore.

"This partnership gives us the additional financial strength and international credibility to take advantage of the on-going developments in the global supply of automotive and aerospace components which Indian companies are seeking to play a role in," company's Joint Managing Director F R Singhvi said in a statement.

CVCI Private Equity's investment in Sansera reflects its confidence in the company and in its abilities, he said.

"This investment demonstrates our commitment to supporting Indian companies with a solid track record. Sansera is a leading player in precision component manufacturing with a strong management team and solid growth prospects," CVCI International Managing Partner Sunil Nair said.

Sansera, which posted revenues of Rs 550 crore in FY13, supplies its products to over 20 customers in the country as well as abroad.

PTI