Piramal Group PE invests Rs 40 cr in Tulsi Castings

IndiaVenture Advisors, a private equity fund promoted by the Piramal group, is investing Rs 40 crore in Tulsi Castings and Machining, a manufacturer of ductile iron castings with facilities at Sangli, Maharashtra, said a person familiar with the transaction.

SBI Capital Markets is learnt to be the advisor to the company for the transaction. Recently, the private equity fund founded by industrialist Ajay Piramal had invested Rs 70 crore in Vardhman Chemtech, a Chandigarh-based bulk drug maker.


Contributed by Reena Zachariah