Banyan Tree Invests In IT Infrastructure Company Trimax

Banyan Tree growth capital fund, a $125 million mezzanine fund, has invested in a Mumbai based IT Infrastructure management services company Trimax IT Infrastructure & Services Ltd for a 10% stake. The amount of money invested stands undisclosed. Media reports suggest the fund has picked up about 10-12% in the company. The company plans to use the funds to strengthen its product and service offerings and for its capital expenditure.
Apart from being a system integrator, Trimax offers managed services and tech support services by incubating new offerings like infrastructure management (including remote), network security management and data center operations. The company employs 1,500 people across 40 locations in India.
Trimax executes BOOT projects for MSRTC involving computerisation of online ticketing services across 22,000 buses being run by it. It is also setting up a 1, 20,000 sq.ft data center in collaboration with ITI Bangalore to cater to customers across industry verticals.
Naval Totla, Director, Banyan Tree Growth Capital Fund, has a lot of expectations from the company. He says, “I guess it will be a multi bagger for us. If they perform as per business plans, they are expected to give us multiple returns.” Banyan Tree has been very careful in selecting Trimax for the investment. “Trimax is purely a domestic play. It does not have any exposure to exports or the US and the European markets as of now. So it is a very safe bet in that sense,” says Totla.
Mumbai-based investment banking firm Blend Financial Services Ltd acted as advisor to Trimax on the deal.
Banyan Tree has previously co-invested with Dutch entrepreneurial development bank FMO in synthetic rope manufacturer Axiom Impex ltd. The two also invested in Kalpena Industries, a manufacturer of PVC compounds.

Banyan Tree, FMO To Invest Upto Rs 9.21 Cr In Kalpena Industries

Kalpena Industries, a manufacturer of PVC compounds, is raising upto Rs 9.21 crore from two private equity funds. The investors are Banyan Tree Growth Capital and Dutch entrepreneurial development bank FMO. Kalpena, a listed entity, is issuing 9,50,000 compulsory convertibledebentures (CCDs) to at an offer price not exceeding Rs 97 per CCD which is convertible into one equity share. The two funds will pick up around 7.6% stake in the post-issued capital of Kalpena Industries upon conversion of the CCDs.

The deal will be considered at a meeting of company's board of directors on March 19. Kalpena Industries has also called for an extra-ordinary general meeting. Banyan Tree Growth Capital is a $125 million mezzanine fund. Banyan Tree and FMO also teamed up for another transaction earlier this year when they invested in synthetic rope manufacturer Axiom Impex ltd. The two funds have invested $7.5 million convertible bond and a $6.35 million secured loan in the company.

Kalpena Industries is involved in manufacturing of PVC compounds which are used for manufacturing cable, footwear and pipes. The company was established in 1994 and is headed by Sushil K.Verma.