IL&FS, Evolvence pump Rs 154cr in RSB
IL&FS Investment Managers and Evolvence invest Rs 154 crore in RSB Group through private equity placement.
By PTI |
MUMBAI: Engineering company RSB Group on Monday announced private equity placement worth Rs 154.35 crore by IL&FS Investment Managers as lead investor along with Evolvence.
RSB will use the funds for capital expansion and to grow organically through joint ventures and acquisition, the company said in a release here.
"We believe that auto ancillary and construction equipment sectors in India are high growth areas, driven by increased infrastructure spending, development of roads and highways and rising exports," IILM's Vice Chairman and Managing Director Shahzaad Dalal said.
RSB is an engineering and component manufacturing business house catering to a wide variety of off highway and heavy automotive segment. RSB Group comprises of four companies, namely International Auto Ltd, RSB Transmissions, I-Design Engineering Solutions and I Vitesse.
RSB is aiming to be a one billion dollar global group by 2013 through both organic and inorganic growth.
The investment advisor to the company for this private equity deal with IIML was KPMG India Private Ltd.
RSB will use the funds for capital expansion and to grow organically through joint ventures and acquisition, the company said in a release here.
"We believe that auto ancillary and construction equipment sectors in India are high growth areas, driven by increased infrastructure spending, development of roads and highways and rising exports," IILM's Vice Chairman and Managing Director Shahzaad Dalal said.
RSB is an engineering and component manufacturing business house catering to a wide variety of off highway and heavy automotive segment. RSB Group comprises of four companies, namely International Auto Ltd, RSB Transmissions, I-Design Engineering Solutions and I Vitesse.
RSB is aiming to be a one billion dollar global group by 2013 through both organic and inorganic growth.
The investment advisor to the company for this private equity deal with IIML was KPMG India Private Ltd.
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