Ramky Enviro Engineers Limited, a division of Ramky Group has received an investment of Rs.200 crores (Rs.2 Billion ) from IL&FS, one of India's largest infrastructure development and financial services companies . The funds involved in providing the investment are Standard Chartered IL&FS Asia Infrastructure Growth Fund (Singapore), Tara India Holding A Ltd (Mauritius), Tara India Fund III Domestic Trust (Mumbai) & Tara India Fund III Trust (Mumbai).
The private equity of Rs.200 crores is divided into Rs. 175 crores of primary & 25 crores of Secondary investment. REEL will issue Compulsory Convertible preference shares to investors which will be converted into equity based on the performance over the next 3 years.
Speaking on the occasion Mr. Alla Ayodhya Rami Reddy Chairman Ramky Group said, “Ramky is a pioneer in the field of Waste Management in India. We have always focused on sustainable development and opportunities to render our social responsibilities. There is a growing need & consciousness in the world communities for Industrial, Municipal & Bio medical waste management. The funds would be used for expansion as well as to fund various new projects on hand.”
Ramky Enviro Engineers Limited (REEL) is India’s leading Waste Management companies with business focus on Industrial, Municipal & Bio medical waste management. Ramky Enviro has 12 subsidiaries with projects across 28 locations across India, West Asia & Singapore.