Kavveri Telecom, the Bangalore based publicly held telecom products company is in negotiations with private equity funds to raise $20 million (around Rs100 crore) in its subsidiary Kavveri Telecom Infrastructure Limited, reports Business Standard.
The private equity funding will be through a fresh issue of equity and will be used to ramp up their capabilities and would also fund acquisitions, the newspaper said.
While Kavveri Telecom owns 51 per cent in the subsidiary, the promoters of the company own another 49 per cent. The private equity funding will be through a fresh issue of equity, the newspaper said.
Headquartered in Bangalore, India, with three well equipped production plants, Kavveri Telecom is geared to meet all telecom hardware needs of clients across the globe.
Shivakumar Reddy, MD, Kavveri Telecom, confirmed to Business Standard that they are in negotiations with private equity funds to finalise the deal to raise $20 million shortly.