Motilal Oswal PE invests Rs 35 cr in Magicrete Building

Investment to help institutionalize the business, accelerate growth, enhance the brand with stake holders

India Business Excellence Fund II and India Business Excellence Fund IIA, funds managed by Motilal Oswal Private Equity Advisors Private Limited invested Rs 35 crore in Magicrete Building Solutions Private Ltd, a leading manufacturer of Autoclave Aerated Concrete Blocks in India.

Magicrete, started in 2008, is primarily in the business of manufacturing AAC Blocks under the brand “Magicrete” and has recently forayed into offering gypsum plaster and dry mortar under the brand “Magicplast” and “Magicbond” respectively.

Sourabh Bansal, Managing Director of Magicrete, said, “This (investment) will help us institutionalize our business, accelerate our growth and enhance our brand with all stake holders. ”