Shriram EPC to fund its expansion has diluted 33.3 per cent stake in Bessemer Venture Partners, a global venture capital and private equity firm, for Rs 100 crore.
T Shivaraman, chief executive officer, Shriram EPC, said that the company was expecting its biomass power, windmills projects and metallurgical projects to be growth driver in the coming years which would see an increase in capital deployment.
ChrysCapital, a private equity firm, had picked up 20 per cent stake for about Rs 30 crore early last year while the remaining 80 per cent stake was held by Shriram group companies.
With Bessemer picking up the stake in the company, ChrysCapital stake would come down to 12 per cent and Shriram's group holding will be capped at 64 per cent, he added.
Shriram EPC dilutes stake in Bessemer
Our Regional Bureau / Chennai Apr 01, 2006, 11:45 IST
Content Guide
