ChrysCap set to venture into manufacturing

NEW DELHI: ChrysCapital is planning to pick up minority stake in two listed manufacturing companies. The deals, which will be valued at $30m each, will see the private equity player venture into the manufacturing space. “The fund is finalising two separate deals worth $30-35m each in the manufacturing space,” said a source. While the fund is still finalising the deals, it is hopeful that the announcement will be made over the next one month.

ChrysCapital had raised $555m in its latest India fund, and has recently invested in finance and pharma companies. It bought stake in Mahindra Finance, Bajaj Finance and Intas. The PE player has been active in the IT & ITES space, besides finance.

These deals, however, will mark a clear shift in the company’s focus towards other growth opportunities. With all big names having a presence in the PE space in India, experts feel there is now a need to look at ‘growth’ opportunities in manufacturing and real estate. “The growth in PE has been secular and now companies are looking across sectors including manufacturing, real estate and finance companies,” an expert said.

Six new players including Dawnie Day and Temasek, have also announced their intentions to enter the PE space in India.