Standard Chartered Private Equity (“SCPE”) has invested Rs. 460 million in Innoventive Industries Limited,(“Company”) a multi-product engineering company based in Pune, India. The investment includes a primary infusion of Rs. 304 Million into the Company as part of the Pre-IPO investment. This funding will part finance the expansion of the Company’s existing precision steel tube manufacturing facilities at Pune. With this investment, SCPE’s equity stake in Innoventive Industries Limited will be 10.14 percent.

Innoventive is a multi-product engineering company focused on precision steel tubes and value added steel products (including boiler steel strips) and oil well couplings (through its subsidiary). The Company’s product range find application in diverse industrial sectors including transportation, oil & gas, power, farm equipments and general engineering.

Also Read   Related Stories News Now - Hardcastle to invest Rs 500 cr in expansion of McDonald's in South & West - Apeejay signs MoU with Dutch Universities - Strong show by SAIL dealers - NG Life launches ING ACE (Pension & Life) traditional plan - Tata Interactive Systems enters the school segment - SmartBaby launches Flip & Econobum cloth diapers

Also Read   Related Stories News Now - Markets post worst May performace since 2006 - Kavveri Telecom Q4 net declines over 6% - Wall Street opens flat on economy worries - RIM to set up first BlackBerry innovation zone in India - Rajaratnam bragged about sources of inside info: Gupta lawyers More

Standard Chartered – leading the way in Asia, Africa and the Middle East

Standard Chartered PLC, listed on London, Hong Kong and Indian stock exchanges, ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London-headquartered Group has operated for over 150 years in some of the world's most dynamic markets, leading the way in Asia, Africa and the Middle East. Its income and profits have more than doubled over the last five years primarily as a result of organic growth.

For more information on Standard Chartered, please visit www.standardchartered.com

Disclaimer: Innoventive Industries Ltd

Innoventive Industries Limited is proposing, subject to market conditions and other considerations, to make an initial public offering of its equity shares and has filed the Draft Red Herring Prospectus with the Securities and Exchange Board of India (‘SEBI’). Axis Bank Limited and Avendus Capital Private Limited are acting as the Book Running Lead Managers to the proposed initial public offer. A copy of the Draft Red Herring Prospectus is made available on the website of SEBI and the Book Running Lead Managers.

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Markets post worst May performace since 2006 - Kavveri Telecom Q4 net declines over 6% - Wall Street opens flat on economy worries - RIM to set up first BlackBerry innovation zone in India - Rajaratnam bragged about sources of inside info: Gupta lawyers

Read Business news in  Advertisements -  Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol. -  "Discover The Power of One" -  Help a Child Achieve her. Click to know more -  Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol. -  Watch The Film Here. Click here to know more.. -  1 billion in saving for Unilever without any tangles. -  Which is the best plan for your daughter -  Check out the TRUE COLOURS of your Stocks, Now for FREE! -  One of the leading business schools in the world.Know More