Pranav raising pvt equity fund for expansion

New Delhi: Formwork engineering company Pranav Construction Systems has said that it was raising Rs 50 crore by way of equity from Nine Rivers Capital, a Mauritius-based $125-million private equity fund.

Pranav intends using the fund to set up a modern manufacturing facility for capacity expansion.

Pranav is a turnkey solution provider in the formwork engineering space and its products find application in the infrastructure sector in large infrastructure projects such as the Delhi Metro, Mumbai Metro, Dubai Metro and New Doha International Airport, and also in the residential segment.

Mr Sushil Sahani, Managing Director, said Pranav is aptly positioned to partner infrastructure companies in India and the Middle East to offer them turnkey solutions.