
Aditya Birla injects $19m into Alphion India
Aditya Birla Capital Advisors Private (ABCAP), the private equity arm of the eponymous financial group, has given Alphion India an INR95 million ($19 million) cash injection.
Alphion India develops and manufactures optical fiber-to-the-premises (FTTx) access systems and integrated photonic devices, and is a subsidiary of the US-based Alphion Corporation.
Bharat Banka, CEO of ABCAP, commented: "Alphion is a unique play in the telecom sector offering proprietary R&D-based, high-speed optical networking systems which empower carriers to deliver services with substantially lower operating costs."
He added that the Indian market has strong growth potential due to investment in broadband and data services infrastructure, and that Alphion's positioning also provides access to other emerging economies. The global annual market for passive optical network (PON) equipment is said to be worth around US$ 4 billion and is growing at a rate of 20% per year.
ABCAP contributed the capital via its Aditya Birla Private Equity Fund I.
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.