SEW Infra gets Rs 152 cr from Mauritius PE firm

SEW Infrastructure today said it has received Rs 152 crore as equity investment from NYLIM Jacob Ballas India Fund III, LLC, a Mauritius-based private equity investor.

Daiwa Capital Markets acted as advisor to SEW on this transaction.

"The infusion of funds will help the company strengthen its balance-sheet further enabling it to bid for larger projects," SEW's Managing Director V Rajasekhar said.

"SEW will use the funds to meet its capital expenditure and working capital requirements as also to part-finance the equity contribution for its five hydro-power projects to be developed in separate SPVs," Rajasekhar said.

SEW is a diversified engineering, procurement and construction services company with a special focus on the irrigation and hydropower segments.