New Delhi: Infrastructure-focused private equity firm IDFC Private Equity (IDFC PE) has invested Rs150 crore in GVR Infra Projects Ltd, a Chennai-based infra project management company. GVR is one of the few unlisted companies in the engineering and contracting space and is also active in the roads sector.
This is third investment by IDFC PE in roads in the eight years of its existence. The investment firm manages Rs5,700 crore ($1.3 billion) across three funds and has made 33 investments.
“We are extremely positive on the roads sector as we expect strong order inflows at the national and state level. We also believe that sectors like railways and urban infrastructure, where GVR has a presence, will open up in a big way in the coming years,” said S. G. Shyam Sundar, partner, IDFC PE, in a release.
Chennai-based investment bank Veda Corporate Advisors was the sole adviser to GVR.