Doshion Ltd. raises Rs350 mn equity from IDFC

Doshion Ltd. raises Rs350 mn equity from IDFC
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First Published: Fri, Nov 02 2007. 09 24 AM IST
Updated: Fri, Nov 02 2007. 09 24 AM IST
Mumbai: IDFC Private Equity Fund II, a fund managed by IDFC Private Equity, is investing Rs 350 million in equity shares of Doshion Ltd., a leading water management company in India.
The company has a pan-India presence and has executed projects in over 40 countries across the world. With technical collaborations in international companies it will execute projects in water purification, waste water and effluent treatment.
Their client base includes BHEL, L&T, Hindustan Zinc, Dalmia Sugars, HPCL, BARC and Maruti.
The money raised from IDFC Private Equity will be used to fuel further growth, by acquiring niche companies in design and fabrication of water treatment plants and for bidding upcoming BOT and BOOT projects in the water segment.
Ashit Doshi, managing director, said, “In the last four years we have stepped up our services by providing water management solutions to industries in the oil and gas, processing, electronic, pharmaceutical and power sectors.”
By partnering with IDFC, Doshion hopes to play a significant role in urban and rural water supply and treatment, as well as waste water treatment facilities, which are slowly opening up for private participation.
Prakash Karnik, managing director-Investments, IDFC Private Equity, remarked, “We have been keen to invest in the emerging sector of water management and this is our first investment in this sector. The global water management market is approximately $375 billion. Though presently the Indian market will be a small fraction of that number, it is slated to register a 30% growth per annum.”
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First Published: Fri, Nov 02 2007. 09 24 AM IST