IMP Powers has announced that the funds managed and advised by Motilal Oswal Venture Capital Advisors (MOVCAPL) have invested Rs 190 million in IMP Powers.
IMP Powers (IMP) offers an opportunity to invest in the high growth transformer sector. IMP is one of the oldest player in the power equipments segment with a product portfolio of various types of transformers, industrial meters and testing equipments. Transformers constitute about 95% of its financial year 2007 sales.
The company is undertaking an expansion project with a capital outlay of Rs 280 million including working capital. The project includes expansion of its manufacturing facilities situated at Silvassa (U.T) from existing 3,600 MVA to 6,000 MVA. The funds managed & advised by MOVCAPL have invested Rs 190 million to part finance the expansion project. Brescon Corporate Advisors, were the financial advisors to the company on this deal. Further, promoters of the company & Brescon Corporate Advisors have subscribed to warrants to finance the balance of the capex program.