SEW Infrastructure Limited, an Indian diversified Engineering, Procurement and Construction (“EPC”) services company with a special focus on the irrigation and hydropower segments, has received a Rs.152 crores equity investment from NYLIM Jacob Ballas India Fund III, LLC, a Mauritius-based Private Equity investor.
The capital infusion will help the company strengthen its balance sheet further enabling it to bid for larger projects.
In addition, SEW will use the funds to meet its capital expenditure and working capital requirements as also to part finance the equity contribution for its 5 hydro power projects to be developed in separate Special Purpose Vehicles (SPVs).
In conjunction with the investment, Sunil Chawla, Partner, Jacob Ballas Capital India Pvt Ltd, investment advisor to NYLIM-JB Fund, has joined the company’s board of directors.
SEW is a 50 year old company and presently employs 5000 people.