Pranav Construction Systems Pvt. Ltd. has been successful in closing out a Public Equity fund infusion of Rs 50.00 Crores. The Mauritius based PE firm Nine Rivers Capital Holdings has picked up a minority stake in Pranav. The money raised will enable PRANAV to fund its aggressive Capex plans and also assist in building up the Rental fleet in the Middle East. Mr. Sushil Sahani, MD of the Pranav states that “Innovation has been a key ingredient in the success of Pranav. With this inflow of Equity, Pranav has added the requisite financial muscle to its existing strength on the product profile which will enable Pranav to compete with the world’s best and make the global aspiration more achievable.” G. Vishwanathan, Director stated “The PE infusion in these tough times, is a reflection of confidence in the company & the technology. The vision of the company is to be world leader in the formwork space and this infusion will spur Pranav to greater success.” Pranav Construction has seen explosive growth in last 3 years and with this equity infusion Pranav will be better poised to sustain the aggressive rate of growth. |