TSEMF concludes Rs 93.4 crore investment in Shiv-Vani

MUMBAI: Templeton Strategic Emerging Markets Fund (TSEMF) today said it has concluded a Rs 93.4 crore ($20.6-million) investment in Shiv-Vani Oil & Gas Exploration Services.

TSEMF III, which invests in listed and unlisted companies in emerging markets, is the third strategic equity fund managed by Templeton Asset Management, an investment management company incorporated in Singapore.

Shiv-Vani is one of India's largest on-shore oil and gas services provider focused on deep well drilling and seismic services. It provides end-to-end services in drilling, extraction, compression and dispatch of gas in its coal bed methane (CBM) business, a statement issued by the company here said.

"This association will fuel our aggressive growth plans and strengthen our position as a global player in the area of oil & gas exploration services," Shiv-Vani's Joint Managing Director Padam Singhee said.