Motilal Oswal Private Equity to infuse Rs 250 crore in Gurugram-based VVDN Technologies Pvt. Ltd focused on product engineering and electronics manufacturing. Motilal Oswal Private Equity had raised over Rs 2,300 crore for India Business Excellence Fund-III in October 2018, to invest in established mid-market businesses.
The fund’s investments include Gujarat-based MAS Financial Services, a non-bank lender; Mysuru-based family business conglomerate N Ranga Rao & Sons Pvt. Ltd, India’s largest maker of incense sticks; and Ludhiana-based Happy Forgings Ltd, one of the largest crankshaft manufacturers in India. Also, in December 2018, the fund had invested in Indore-based bulk-drugs maker Symbiotec Pharmalab Pvt. Ltd in a consortium with InvAscent.
Vishal Tulsyan, managing director and chief executive of MOPE, said to the media on the lastest acquisition, “Our experience of investing in the electronics product manufacturing space in India has been quite good.”
VVDN’s customer base includes global semi-conductor companies and large- to mid-sized original equipment makers across multiple areas like 5G, data centre, networking, IoT (Internet of Things), cloud and applications.
Saharan, co-founder and chief executive of VVDN, said to the media, “Partnering with MOPE will accelerate VVDN’s growth plans and help the company in scaling the business. Their experience of investing in electronics manufacturing and organisational development in their portfolio companies will add a lot of value to our company.”
VVDN has a global sales footprint across the US, Europe, South Korea, Japan and India with nine design/delivery centres employing 2,000 plus engineers, and four manufacturing facilities to service its customers, as per the company’s statement. JM Financial Services acted as a financial adviser to VVDN for the deal.
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