Motilal Oswal Private Equity Advisors Pvt Ltd is investing Rs.40 crore in Power Mech Projects Ltd for an undisclosed stake. Andhra Pradesh-based Power Mech is engaged in erection, testing and commissioning of boilers, turbines and generators for thermal and gas-based power plants besides overhauling and maintaining them. It has an unexecuted order book of Rs.1,500 crore. Its projects are currently spread over 16 states in India; it also projects overseas.
Power Mech has worked with key power sector players like Bhel, NTPC, Tata Power, Lanco, Adani, etc. The company plans to use the Rs.40-crore investment in the next 1-2 years towards building its own equipment bank for increased mechanization that would fast-track mobilization of new sites. |