Left Menu
Development News Edition

IIFL Group arm invests Rs 100 cr into Kolkata firm CDE Asia

PTI | Mumbai | Updated: 29-07-2019 17:53 IST | Created: 29-07-2019 17:53 IST
IIFL Group arm invests Rs 100 cr into Kolkata firm CDE Asia

IIFL Asset Management, the alternate investing vehicle of the IIFL group, has announced a Rs 100-crore fund infisusion into wet-processing equipment maker CDE Asia. The fund will be deployed to further the Kolkata- based company's expansion plans, the IIFL Group said in a statement Monday.

CDE Asia is a manufacturer of wet-processing equipment and is part of the England-headquartered CDE Group. The company combines processing technology with specialised metallurgical know-how in an integrated energy- and water-efficient patented product set, it said.

The fund infusion will help it grow in the artificial sand (m-sand) processing equipment and services business in India, Japan, South Korea and other Southeast Asian countries, CDE Asia promoter and managing director Manish Bhartia said. M-sand is a sunrise industry but has witnessed various states promoting its use, the statement claimed.

There are other opportunities for the company as well like waste reprocessing for roads, construction, solid waste management and manufacturing sectors such as metal ore, silica and cement. IIFL AMC joint chief executive Anup Maheshwari said the platform has made 25 private equity investments till now.


(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)



China: A savior for emerging markets or a poison pill?

... ...

Future of Urban Planning: Artificial Intelligence guiding the way

Advances in emerging technologies like Artificial Intelligence and Machine Learning can help us understand our cities better and derive useful insights from real-time data collected through automated models....


Latest News

Pak opposition walks out of Senate over 'inadequate' response on CPEC queries

Opposition parties staged a walkout from the Senate session on Friday over the Pakistan governments inadequate response to their queries on China-Pakistan Economic Corridor CPEC Authority ordinance, reported Dawn. They also questioned the m...

U.S. and Mexican presidents talk migration, coronavirus after nagging tensions

Mexican President Andres Manuel Lopez Obrador said he and his U.S. counterpart Joe Biden discussed migration, the COVID-19 pandemic and bilateral cooperation on Friday during their first phone call since the American assumed the presidency ...

Baseball's 'Hammerin' Hank' Aaron, who held career home run record, dies at 86

Baseball Hall of Famer Hank Aaron, the quiet, unassuming slugger who broke Babe Ruths supposedly unbreakable record for most home runs in a career and battled racism in the process, died on Friday, the Atlanta Braves announced. He was 86. A...

Brazil President Bolsonaro thanks PM Modi for COVID vaccines

Brazilian President Jair Bolsonaro has thanked Prime Minister Narendra Modi for providing two million doses of COVID-19 vaccines to fight the deadly coronavirus infection in his country, one of the worst-hit nations by the pandemic.India, o...

Give Feedback