Shriram EPC to raise Rs250 cr from West Asia investor Markab Capital
1 min read . Updated: 11 Jul 2020, 04:59 PM IST
Premium- The Shriram board has approved the term sheet, subject to due diligence, authorising the management to proceed
- Markab, the West Asia-focused multi-family office and merchant bank, handles around $1 billion in AUM
MUMBAI: Shriram EPC, a construction company, on Saturday said that it is in talks to raise ₹250 crore from West Asia-based investor Markab Capital.
"We wish to inform you that a meeting of the Board of the Company was held on 10/7/2020 to discuss and consider a term sheet from Markab Capital, a strategic investor for the issuance and allotment of equity shares by way of preferential issue for total value of upto Rs.250 crores subject to satisfactory completion of due diligence and definitive agreements," the company said in an exchange filing.
The board has approved signing the term sheet, subject to due diligence, statutory, regulatory and other approvals and has authorised the management to proceed with the necessary discussions and actions to proceed with this transaction, it added.
Markab Capital is a West -focused multi-family office and merchant bank. Markab handles around $1 billion in assets under management and has significant experience in investments in engineering, procurement and construction (EPC) companies as well as telecom and real estate.
