Abakkus Leads Rs.175 Crore Funding in Stelmec Limited with Hem Securities Ltd. as Lead Advisor
Mumbai (Maharashtra) [India], February 20: Mumbai-based Stelmec Limited, a three-decade-old name synonymous with Electrical Power Products in India and a trusted partner to various State Owned and Private Power Utilities, has secured ₹175 crores from a consortium led by Abakkus Four2Eight Opportunities Fund. The transaction was facilitated, Hem Securities Ltd., who played a pivotal role in structuring and executing the deal.
Stelmec is engaged in the manufacturing of MV switchgear and other value-added products for Transmission & Distribution networks. It is a leader in Vacuum Circuit breaker technology solutions in the field of MV Switchgear products for the Utility market. It is also engaged in EPC of High Voltage substations and T&D lines.
The funds raised will be utilized to ac...