Mid-cap security solutions provider
Business: Security Solutions provider based in New Delhi, India with a Pan-India presence across 30+ branches and over 15,000 employees.
Year of Investment (Privately held): 2008
Post Investment Result:
  • Rakesh Jhunjhunwala, India’s ace investor, and Future Group’s Indivision along with ICICI Venture invested in Topsgrup, a company similar to our investee company. DE Shaw acquired majority stake in Security and Intelligence Services (SIS).
  • IEC’s investment in a similar size company has been at a much lower valuation than that of Topsgrup & SIS.

Mid-cap urban water infrastructure company
Business: Water Infrastructure Company based in Chennai, India. Company implements number of water based projects (irrigation, sewage, transportation etc.) for municipal bodies in the state of Tamil Nadu.
Year of Investment (Privately held): 2007

Mid-cap auto component manufacturer
Business: Auto Component Manufacturing Company based in Belgaum, Karnataka with a 100% subsidiary in Dusseldorf Germany. Company is an OEM to Maruti, Hyundai, Daimler Chrysler, and Volvo etc. Company is specializing in Camshafts, Exhaust manifolds and Turbocharger housings.
Year of Investment (Privately held): 2007
Post Investment Result:
  • Formulated international acquisition strategy in Germany
  • Inducted investment relationship with international investors
  • Established continued credit facility
  • Company now positioned to become a leading integrated auto component company with plants in both Germany and India.