Business Daily from THE HINDU group of publications
Wednesday, Oct 24, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Oct 24, 2007 ePaper | Mobile/PDA Version |
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Corporate
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Venture Capital States - Gujarat GVFL invests Rs 4 cr in Sahajanand Laser Tech Our Bureau Ahmedabad, Oct. 24 Venture capital company GVFL has announced an investment of Rs 4 crore in Sahajanand Laser Technology Ltd (SLTL), a manufacturer of laser systems for the diamond industry. GVFL will make the investment from its Rs 29.6-crore Gujarat IT Fund. SLTL, based in Gandhinagar, will be utilising the funds for the expansion of its range of high–end laser machines. Sahajanand pioneered the laser technology for diamond industry in India, which has emerged as the global destination for diamond cutting and adding value to small and very small diamond ‘roughs’, Mr Vishnu Varshney, CEO of GVFL Ltd, said here. SLTL is the 61st investment being made by GVFL in innovative technology companies across India. It is the first Indian company to introduce a fiber laser machine in the country, Mr Arvind Patel, Managing Director of SLTL, said. Mr Patel has patents to his credit and also received national awards for innovative laser technology, GVFL said in a release. More Stories on : Venture Capital | Gems & Jewellery | Gujarat
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