Private equity firm Creador is set to acquire a 19.6% stake in mobility-focused global engineering R&D services company Hinduja Tech Ltd for $50 million.
This investment places Hinduja Tech at a post-money equity value of $255 million.
The infusion of capital will help the company expand research and development capabilities, enhance its global footprint and expand its state-of-the-art labs, the company said in a statement.
Creador is a private equity firm focused on business investments in South and Southeast Asia regions.
Talking about the investment by Creador, Kumar Prabhas, CEO of Hinduja Tech, said, “Hinduja Tech has developed tremendous domain expertise over the last 10 years with a number of global OEMs as its customers. We have an ambitious growth plan in the sustainable engineering mobility segment. We are very pleased to partner with Creador, their investment will allow Hinduja Tech to accelerate its Global growth plans.”
Anish Kedia, director at Creador, said, “With its deep capabilities across engineering, powertrain and electronics, we believe Hinduja Tech is well poised towards creating sustainable and profitable solutions for the future of mobility.”
In FY23, Hinduja Tech acquired the UK & US-based company Drive System Design, specializing in e-powertrain design.
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Published: 14 Mar 2024, 08:55 PM IST