Private equity fund manager, ChrysCapital, has acquired a 10 per cent stake in Kolkata-based Titagarh Wagons and plans to invest over $500 million (Rs 2,3.4 billion) in India, over the next 2-3 years.
"ChrysCapital has picked up about 10 per cent stake in Titagarh Wagons," ChrysCapital Principal Sanjay Kukreja told PTI.
ChrysCapital forsees significant business potential in companies like Titagarh given the expectations for massive infrastructure-related investments in the railway sector, he added.
"Railways have seen years of underinvestment. With freight volumes increasing, the sector will see massive investments in infrastructure creation by both the railways and private companies using the network including container logistics companies," Kukreja said.
ChyrsCapital manages $1 billion across four funds exclusively focussed on making equity investments in India.
"The fund has so far invested roughly half of the $1 billion capital, and plans to invest over $500 million in India over the next 2-3 years, " Sanjay Kukreja said.
Earlier, ChrysCapital had made investments in Shriram Group Companies, Mphasis, Spectramind, Suzlon Energy, Gammon and UTI Bank.
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