The private equity arm of Aditya Birla group, Aditya Birla Capital Advisors has raised $48 million (2.2 billion rupees) in its 2nd private equity fund (PE fund). This fund will invest money into proven business concepts across various sectors which are in former stage of exponential growth.
The 2.2 billion rupees was the intial closing amount for Sunrise Fund of Aditya Birla Private Equity. The PE fund will continue to get investments until its final closing very soon. They did not clearly mention about the timeframe.
The fund has mandated to buy minority stakes in unlisted entities, primarily India centric businesses in rising sectors such as education & lifeskills, applied technologies & lifecare.
The first investment has been made in New Delhi based company SMS Paryavaran Ltd. They have made an investment upto rupees 400 million in this company. SMS Paryavaran Ltd is in water & waste water treatment sector. This year the firm also invested rupees 625 million on GEI industrial system a Bhopal based company which manufactures equipment in the energy sector.
SMS Paryavaran Ltd. Takes up turnkey projects in various fields of water storage & distribution, water treatment, industrial effluent collection, water transmission and sewerage system. We have seen a number of PE funds have shown interest in water treatment companies in 2011. For Nexus Ventures Partners, Jalandhar industries raised rupees 9 crores. ChrysCapital invested rupees 100 crores in Pratibha Industries. Aqua Designs India raised rupees 55 crores from Peepul Capital Fund II LL.
“Bell the bull says: The Aditya Birla Capital Advisors manages funds worth rupees 11 billion ($238 million).”