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December 16, 2008

Deal Alert: IDFC PE invests Rs. 200-Cr in Deepak Cables

From Press Release:

Deepak Cables (India) Limited, a Bangalore-based maker of aluminium conductors for Transmission & Distribution application, has raised Rs. 200 crores from IDFC Private Equity. With this investment, Deepak Cables has raised a total amount of Rs. 285 Crores, following the Rs.85 crores raised from UTI Ventures in June 2008.

o3 Capital was the sole advisor for the deal.

Bangalore based Deepak Cables was founded by K. Surya Rao in 1982 as an aluminium conductors manufacturing company and over the last two decades has grown to become one of the largest T&D EPC players in the country. Deepak Cables with its two aluminium conductor manufacturing plants at Tumkur and Pondicherry and in-house design and engineering capabilities is one of the few players having the expertise to execute projects end-to-end: from design to commissioning. The company has an client list of leading public sector T&D entities such as KPTCL, PGCIL, MSEDCL, Discoms and several prestigious private sector companies.