 "Dubai-based Mark ab Capital to infuse Rs 350 cr in Shriram EPC")
Dubai-based Mark ab Capital is planning to infuse around Rs 350 crore in Shriram EPC (SEPC), which is focused on providing turnkey solutions.
SEPC is managed by T Shivaraman, eldest son of Shriram Group founder R Thyagarajan.
Shriram EPC, a listed entity, said its Board today met and discussed the revised term sheet from Mark ab Capital, which will come in as a strategic investor. The Board discussed the issuance and allotment of equity shares by way of preferential issue for a total value of up to Rs 350 crore.
Mark ab manages $1.09 billion assets under management. It has exposure to nine EPC companies in Kuwait, UAE, North Africa and Russia, and investments in telecom and real estate as well.
The $183 million SEPC provides end-to-end solutions to engineering challenges offering multi-disciplinary design, engineering, procurement, construction and project management services. SEPC is focused on providing turnkey solutions in the business segments including process & metallurgy, power, water infrastructure and mining & mineral processing.
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