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*WL Ross and Co. LLC* may invest about Rs 400 Cr in *Vijai Electricals Ltd*. If the deal goes through, it would be second investment in Vijai Electricals. It had earlier raised $25.8 Mn from *3i Group Plc* in Aug'08. Vijai Electricals has appointed *IDFC-SSKI Securities* to help it raise the funds. Transaction Note Vijai Electricals - established in 1973 - manufactures power and distribution transformers, and erects transmission and distribution lines. For 2008-09 (refers to financial year, April 1 to March 31), on a standalone basis, Vijai Electricals posted a net profit of Rs.2.06 Cr on net sales of Rs.1425 Cr, against a net profit of Rs.64.75 Cr on net sales of Rs.1329 Cr in 2007-08. It has a manufacturing facility in Hyderabad. In November last year, Crisil downgraded Vijai's loan raising programme from A- to BBB-.The downgrade was due to delayed payments from key customers and increase in inventories. WL Ross & Co. LLC generally invests in distressed firms. This would be its third investment in an Indian company. Earlier in July'08, it invested $80 Mn in Spicejet Ltd. It has also invested $37 Mn in OCM India Ltd in Oct'06. *PE Investment in the Power sector* PE funds invested $532 Mn in 2009 over 21 deals. Since January 2010, TPG Growth invested $116 Mn in Greenko Group Plc and Blackstone invested $60 Mn in Monnet Power for a 12% stake. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
