- Amount to be utilized by Shera Energy Private Ltd. (SEPL) for part funding its expansion project through its subsidiary company Shera Metal Private Ltd. (SMPL).
- Rs 300 Cr. Shera Group plans to double turnover to Rs 600 Cr. by FY 2018
Canbank Venture Capital Fund through its Fifth Fund viz., Emerging India Growth Fund has invested Rs 10 crore by way of equity for a minority stake in the Jaipur, INDIA based M/s Shera Energy Private Ltd. (SEPL) a leading manufacturer of Copper and Aluminium Alloyed products having diversified industrial use. The investment is through preferential allotment of equity shares to CVCFL.
Shera Energy Private Limited is a leading manufacturer of all grades of Copper, Aluminium, Brass and other alloyed products viz flats, rods, tubes and wires. The Company also offers electroplating, enameling, paper covering and fiber glass taping on the metal. The Company has the distinction of supplying Copper Products having an IACS conductivity of 102% (par excellence with European Standards) on a consistent basis. The Company has recently set up an expansion project through its subsidiary company viz Shera Metal Private Ltd. at Reengus, Rajasthan with an installed capacity of 4635 MTPA entailing a capital outlay of Rs. 28 Cr. The project has already started commercial production and expecting to go full stream by April, 2015. The Project has been set up using latest and ultra modern techniques. Apart from domestic market, the Project also intends to cater to the export markets such as United States, U.K., Middle East etc in a bigger manner. Shera Metal hopes to achieve a turnover of Rs 200 Cr. by FY 2018.
Said Mr. S Thiruvadi, MD-CVCFL, “Canbank Venture Capital Fund expects good potential in Shera Energy to grow in the years to come and become a market leader in its field. The Company is well managed by technocrat promoters, operating in the field of metal fabrication industry having modern manufacturing facilities with focus on quality and precision. CVCFL anticipates good returns on its investment through dividends and capital appreciation on exit. CVCFL aims to assist unlisted mid-stage/late stage companies in the manufacturing or services sector with good growth potential and require funding.”
From a maiden start of winding wire’s production of just 100 MT per annum in 2003, SEPL has successfully crossed over 7,000 MT per annum during 2013-14. The company is a well established name in manufacture of all range of Super Enameled Wire and alloyed non ferrous metals to suit the diverse requirements of electrical industries. The High Conductivity Copper produced by the company is manufactured using high grade raw materials and latest production techniques following stringent quality standards. The Company is ISO 9001:2008, ISO 14001:2004 and OHSAS 18001:2007 certified.
Adds Mr Naseem Shiekh, Chairman & Managing Director, SEPL, “The amount invested by CVCFL will be utilized by the company for meeting its Equity Requirement in its new project being set up through its subsidiary company Shera Metal Private Ltd (SMPL) and for other general corporate purposes.”