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| IEP to invest Rs 100 crore in Gujarat |
| BS Reporter / Mumbai/ Ahmedabad Aug 17, 2009, 00:03 IST |
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Private equity player, India Equity Partners (IEP) Fund Advisors Pvt. Ltd. is planning to invest around Rs 100 crore in the industrial water segment in the state of Gujarat. The company is in talks with one of the industrial water services player in Gujarat.
Talking about the company’s plans, Gaurav Mathur, managing director of IEP said, “The water service is a growing business in Gujarat. There is a huge requirement for industrial water services, especially for units in textile. Seeing this potential, we are in talks with some mid-sized equipment companies.”
Refusing to divulge names of IEP’s potential investees in Gujarat, Mathur said, “We cannot get into potable water because as a company we don’t think it’s ethical to charge for drinking water, but industrial water treatment is a different ball game and very profitable. Initially, we are looking at investing around Rs 100 crore.”
Apart from industrial water service, IEP is also looking at the gas distribution sector and manufacturing industries in Gujarat. Mathur said that the company has evinced interest of investing in these sectors in the state. “However, as a company we don’t look at region-specific investment,” he added.
IEP’s client portfolio comprises the likes of Amtek India, Bharti Infratel, Ikya Human Capital, Jai Balaji Industries, Mannapuram Group and Ocean Sparkle.
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