 "Shriram EPC to raise Rs 250 crore from West Asia-based Markab Capital")
Markab Capital, a West Asia focused multi family office and merchant bank, is planning to invest Rs 250 crore in Shriram EPC, a Shriram Group Company. The fund-raising will be in the form of allotment of equity shares by way of a preferential issue.
The Shriram board has approved signing the term sheet, subject to due diligence, statutory, regulatory and other approvals and has authorised the management to proceed with the necessary discussions and actions to proceed with this transaction, the company said in an exchange filing.
Markab has around $1 billion in assets under management and has significant experience in investment in EPC and construction companies as well as telecom and real estate.
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