BTS picks up stake worth Rs 20 cr in RAPL

NEW DELHI: Private investment fund BTS India Private Ltd on Wednesday said it has picked up stake worth Rs 20 crore in auto-component manufacturer Reliable Autotech Pvt Ltd (RAPL).

The investment in RAPL completes BTS' first tranche of investment in India. BTS has a corpus of $80 million dedicated for investment in medium-sized enterprises, BTS said in a statement.

"The investment in RAPL is in line with BTS India's strategy of fast-growing smaller companies, which are looking for growth capital to further expand their operations to achieve economies of scale," BTS Investment Managing Partner K Srinivas said in the statement.

RAPL is an upcoming player in the fast growing auto component sector and caters to auto companies and Tier I manufacturers in both domestic and international markets, it said.