New
Delhi, April, 2019
LivGuard,
India’s fastest growing automotive battery, inverter battery and solar manufacturer,
has raised over Rs 170 crores from ChrysCapital and Rs 50 crores from Ncubate
Capital Partners (investment arm of the SAR Group) to fuel its ambitious expansion
plans and become a top 3 integrated energy storage company in India over the
next few years. ChrysCapital, is India’s
largest home-grown private equity fund with an AUM of approximately $4 bn,
having made 80+ investments in India and delivered over 65 exits.
Started
in 2014, LivGuard has already established itself as a strong player in the
energy solution space in India and global markets. The brand operates under the SAR Group, which
has an incredible legacy of 30 years. The investment will help LivGuard to further
accelerate its growth across all segments through capacity enhancement, moving
into electric vehicle lithium battery space, new product development, brand and
distribution.
Speaking on the occasion
Mr. Rakesh Malhotra, Founder & Mentor, LivGuard said, “We are thrilled about ChrysCapital investing
and is a testament of what we have already achieved to set a strong foundation
for future. This investment will
accelerate our existing business plans and develop future technologies. Since, there is a space for strong player in
the market; this investment will help us to grow further in this sector”
Speaking on the
investment Mr. Navneet Kapoor, Chairman & Co- Founder, LivGuard said,
“With this strategic funding, we are looking forward to augment innovation and
technology to scale up our product portfolio and manufacturing across the
country.”
Commenting on the
announcement Mr. Gurpreet Singh Bhatia, CEO, LivGuard said, “The
investment is crucial for us to build the brand, distribution thereby ensuring
a sustained accelerated growth.”
Commenting on the
investment, Raghav Ramdev, Director, ChrysCapital said, “ChrysCapital is
excited to partner with LivGuard in its journey to become a leading battery
manufacturer. LivGuard has scaled well
over the past few years and has built a strong pan-India distribution network along
with an excellent manufacturing footprint.”
Grant Thornton was the exclusive financial advisor
for this transaction.
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