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PE firm Oxley may invest Rs 150 cr in Ushdev International

According to reports, metals trading and wind farm operator Ushdev International is likely to see capital infusion of around Rs 150 crore by the month-end from the Singapore-based private equity (PE) firm Oxley Group.

“Capital infusion of around Rs 150 crore from the Singapore-based private equity firm Oxley Group will happen by the end of the financial year,” the Ushdev International (UIL) Managing Director, Mr Prateek Gupta, told PTI here.

He said the promoters will dilute around 15 per cent of their holdings in this process, bringing down their stake in the 18-year-old company to 46 per cent.

UIL, the third-largest non-state metal trader, which is into the physical trade of both ferrous and non-ferrous metals along with wind power generation, will utilise the capital for business expansion, meeting its working capital requirements along with part repay of debt, Mr Gupta said. The company had debt of around Rs 120 crore at the end of the December quarter with debt-equity ratio of 0.2 per cent.

By the end of the current fiscal, debt will come down to under Rs 100 crore, he added.

Oxley is a private investment group specialising in multi-family office services, private equity deals and real estate investments in the Asia—Pacific region.

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