Business Daily from THE HINDU group of publications
Saturday, Aug 25, 2007
ePaper
Business Daily from THE HINDU group of publications Saturday, Aug 25, 2007 ePaper |
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Corporate
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Mergers & Acquisitions Reliance Capital acquires 26% in Victory Transformer
Our Bureau Mumbai, Aug. 24 Reliance Capital, through its private equity arm, has invested Rs 75 crore in Victory Transformer & Switchgear Ltd (VTSL), a fully integrated transformer manufacturing company, for an approximate 26 per cent stake. VTSL is a Hyderabad-based company promoted by Mr Vaddineni Venkatappaiah Naidu in 1996. It is now managed by his son, Mr Mahindra Vaddineni. The company primarily manufactures power transformers, but it is vertically integrated and manufactures related products such as unitised sub-station, transformer core, vacuum circuit breaker, insulators and transformer oil. The company supplies to the State electricity boards and major EPC contractors. The company’s revenue grew at a CAGR of 89 per cent over the last two years. It has an order book of over Rs 200 crore. The company is raising funds for expanding the existing transformer capacity and is considering acquisitions in the near future. The turnover is expected to reach Rs 225 crore during the current financial year. A Reliance Capital spokesperson confirmed this, but declined to provide any details.
More Stories on : Mergers & Acquisitions | Electrical Goods | NBFCs
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