Private Equity

Private Equity Fund Investments

Thrissur Expressway raises $75-M from India Resurgence Fund

Free Press Journal  

India Resurgence Fund, a JV fund promoted by Piramal Enterprises and Bain Capital, has invested USD 75 million (INR 555 crore) in Thrissur Expressway Ltd (TEL), an SPV of Hyderabad-based KMC Constructions Ltd (KMC). Equirus Capital are the exclusive advisors to KMC on this transaction. The investment will be used towards restructuring of TEL's existing debt and for last mile financing to enable project completion. TEL operates a 28 km highway project in Kerala, between Thrissur and Vadakkanchery. It is a part of the National Highway that connects Kochi, Kerala and Salem, Tamil Nadu which passes through cities such as Erode, Coimbatore, Palakkad and Thrissur. TEL was awarded the project in 2009, for widening the existing two lane stretch to six lanes, by the National Highway Authority of India under the Design, Build, Finance, Operate, and Transfer basis, for a concession period of 20 years.