Banyan Tree invests $15m in Dilip Buildcon
Banyan Tree Growth Capital, a $100 million private equity fund that provides capital to middle-market Indian firms, has invested INR750 million ($15 million) in Bhopal-based infrastructure company Dilip Buildcon.
The deal was arranged by Caparo Financial Solutions, a non-banking financial company (NBFC) owned by UK-based Caparo Group, which provides private equity and debt arrangements.
"Banyan Tree Growth Capital, a Mauritius-based fund, will be getting a minority stake along with Board representation in Dilip Buildcon," Rajesh Prasad, managing director and country head of Caparo in India, told The Economic Times.
In the last five years, Dilip Buildcon has executed contracts worth more than INR10 billion. The infrastructure company is expected to post revenues in excess of INR10 billion for the current financial year, while its order book is expected to reach INR50 billion in the next three years.
Dilip Buildcon is the seventh investment made by Banyan Tree. It previously invested in Axiom, Cordages, Trimax IT Infrastructure Systems, GEI Industrial Systems, Deepak Fasteners and Dee Development Engineers. Dutch development bank FMO and Europe-based DEG are investors in the fund.
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