McNally Bharat Engineering Raises US$7.5 Million from Tata Capital, Others (Asia)

Source: VCCircle  |  Author: Bhawna Gupta

Indian private equity firm Tata Capital, Indian wealth management company Vyana Advisory and investor Brijesh Kumar Biyani have collectively invested INR416 million (approximately US$7.5 million) in Indian engineering company McNally Bharat Engineering (MBE). MBE provides turnkey solutions for the power, metals and minerals industries. The consortium purchased non-convertible redeemable preference shares in MBE on the Bombay Stock Exchange.