Private Equity PE Fund Investments
Electric power products maker Stelmec raises Rs.175-Cr led by Abakkus
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Mumbai-based Stelmec Ltd , a manufacturer of electrical power products, has raised INR 175 crore from a consortium led by Abakkus, via its Four2Eight Opportunities Fund.Founded in 2000 by Hamza Arsiwala, Stelmec manufactures MV switchgear and other value-added products for transmission & distribution (T&D) networks. It is also engaged in EPC (Engineering, Procurement, and Construction) of high voltage substations and T&D lines.The new funds raised will be used to accelerate Stelmec's expansion plans, enhance R&D capabilities, and strengthen its market presence in India and abroad.
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For FY24, Stelmec had reported about INR 888 Cr in Operating Income and about INR 22 Cr in PAT.