IIFL Asset Management Ltd, a subsidiary of IIFL Group, has offered INR 100 crore in equipment making company, CDE Asia Ltd, according to a media report.
The company will use the funds to grow its artificial sand processing equipment and services business in India, Japan, South Korea, and Southeast Asian countries, CDE Asia MD and promoter, Manish Bhartia told the daily news, VC Circle.
We are also seeing emerging opportunities in waste reprocessing for roads, construction, solid waste management and manufacturing sectors such as metal ore, silica, and cement, Bhartia added.
Essentially, CDE Asia is a subsidiary of the UK-based, CDE Group. Pantomath Capital works as an investment banker for CDE Asia on the transaction as well as a financial adviser.
IIFL AMC provides various investment products like Alternative investment funds, portfolio management services, real estate, mutual funds, and fixed-income securities.
IIFL AMC has primarily two funds under its PE segment. Amid the two funds, one fund upholds emerging firms and professionals who wish to start anew. Further, the company has an individual $1 billion fund that backs firms prior to and during their IPO.
In the previous year, the company had commissioned Anup Maheshwar as joint CEO and CIO (Chief Investment Officer).