Oman invested in Indian defense firm
Oman India Investment Fund has invested around R55Cr in Indus Teqsite for 19.64% stake.
Khaitan & Co advised Oman India Investment Fund while Indus Teqsite was advised by its in-house team.
Founded in 1998 by Rangarajan, Chennai based Indus Teqsite is engaged in manufacturing of software-integrated hardware in the field of high end automatic testing of Defense Equipments.
These systems range from COTS board to complex systems.
The Indus group designs, develops, and manufactures electronic hardware; it also develops complementary software applications for electronic systems and subsystems used by the defence and aerospace industries.
Its key customers include government organisations, such as Defence Research and Development Organization (DRDO), the Ministry of Defence, Hindustan Aeronautics Ltd, and the armed forces.
It has its manufacturing plant at Siruseri Technology Park, Chennai.
Oman India Investment Fund is JV between State General Reserve Fund (SGRF) of Oman and State Bank of India (SBI) with an initial corpus $100Mn.
According to a recent report by E&Y, the Indian domestic demand for electronics products is expected to reach $125 Billion by 2014, up from the current level of $45 Billion annually.
In the space, Ineda Systems was planning to raise funds for expansion through PE route.
KPIT Cummins acquired minority stake in the Sankalp Semiconductor Private Limited. Sankalp Semiconductor is an AMS (Analog and Mixed Signal) semiconductor design service provider and was founded in 2005 by Vivek Pawar and team. It employs 120 employees at multiple sites.
DealCurry.com : Oman India Investment Fund Invests In Indus Teqsite
Oman India Investment Fund has invested around R55Cr in Indus Teqsite for 19.64% stake.
Khaitan & Co advised Oman India Investment Fund while Indus Teqsite was advised by its in-house team.
Founded in 1998 by Rangarajan, Chennai based Indus Teqsite is engaged in manufacturing of software-integrated hardware in the field of high end automatic testing of Defense Equipments.
These systems range from COTS board to complex systems.
The Indus group designs, develops, and manufactures electronic hardware; it also develops complementary software applications for electronic systems and subsystems used by the defence and aerospace industries.
Its key customers include government organisations, such as Defence Research and Development Organization (DRDO), the Ministry of Defence, Hindustan Aeronautics Ltd, and the armed forces.
It has its manufacturing plant at Siruseri Technology Park, Chennai.
Oman India Investment Fund is JV between State General Reserve Fund (SGRF) of Oman and State Bank of India (SBI) with an initial corpus $100Mn.
According to a recent report by E&Y, the Indian domestic demand for electronics products is expected to reach $125 Billion by 2014, up from the current level of $45 Billion annually.
In the space, Ineda Systems was planning to raise funds for expansion through PE route.
KPIT Cummins acquired minority stake in the Sankalp Semiconductor Private Limited. Sankalp Semiconductor is an AMS (Analog and Mixed Signal) semiconductor design service provider and was founded in 2005 by Vivek Pawar and team. It employs 120 employees at multiple sites.
DealCurry.com : Oman India Investment Fund Invests In Indus Teqsite
