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Dubai-based Mark ab Capital invests Rs 350 crore in Shriram EPC equity

The Dubai-based company has bought 26.48% stake in the turnkey solutions firm and has become its promoter

Shriram EPC | Investment | Indian companies

BS Reporter  |  Chennai 

investment bankers
The Dubai-based company has bought 26.48 per cent stake in SEPC with this deal and has become its promoter

Mark ab Capital, a West Asia focused multi family office and merchant bank, has invested Rs 350 crore in equity of (SEPC), which is focused on providing turnkey solutions. The Dubai-based company has bought 26.48 per cent stake in SEPC with this deal and has become its promoter.

This is part of restructuring of SEPC under the stressed asset provisions of the . “The existing promoter (SVL Limited ) will cease to be a promoter. As part of the restructuring, the consortium of bankers have converted part of their debt into CCDs and NCDs,” said a source.

The Board of SEPC has been reconstituted and N K Suryanarayana was appointed as the managing director. According to T Shivaraman, former managing director and chief executive officer of SEPC, the company has a regular debt of around Rs 200 crore and another Rs 350 crore as debentures. He added that with this Mark AB intends to grow the EPC business both in India and the broader region tapping into the opportunities in the infrastructure space.

Mark AB capital is a leading company headquartered out of and has over $1 billion worth of assets under management.

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First Published: Mon, September 26 2022. 19:23 IST