Private equity firm 3i India Infrastructure Fund is investing around $61 million (Rs. 302 crore) for a minority stake in a portfolio of BOT (build, operate and transfer) road projects of Supreme Infrastructure India.
Rajani Associates advised Supreme Infrastructure with a team led by Managing Partner Prem Rajani along with Associate Partner (Projects) Shisham Priyadarshini.
Wadia Ghandy advised 3i with a team led by Partner Ankit Majmudar.
According to VCCircle, Supreme Infrastructure, founded in 1983 undertakes engineering works with most of the government departments, public and private sector organisations. The firm has developed over 400 km of highways and currently has an order book of Rs. 5700 crore, of which the unexecuted order book stands at Rs. 3750 crore.
The $1.2 billion 3i India Infrastructure Fund has a portfolio of investments spanning the entire asset lifecycle. Since its inception, the fund has invested in Adani Power, Soma Enterprises, Krishnapatnam Port Company, KMC Infratech Ltd, GVK Power and Infrastructure Ltd and Ind Barath Energies Utkal. The firm typically takes a minority shareholding of 10-45 per cent in the investee company, as well as a board seat.