‘Funds to be infused over 5-7 years’
TFCC International will pick up a 46% stake in Chennai-based Ramcharan Co. Pvt. Ltd. for $4.14 billion.
The investment horizon is spread over for five to seven years and the first round would be closed by January 2022. TFCC International is a deep impact fund, with investments from high-net-worth individuals, government agencies and financial institutions, based in New York.
It will infuse funds into Ramcharan Co. for investment in areas from environment to energy management systems and renewable energy devices with high storage capacity made from sodium silicate, it said in a statement.
TFCC International has had investments in West Asia and South Asia, and is now looking at investments in India in the areas of environment solutions, renewable energy and low-cost housing. The investment in Ramcharan Co. is its first in the country.
Ramcharan Co. has been, of late, into deep-tech, end-of-life chemicals converting unsegregated waste into energy and manufacturing new-generation energy storage devices.
(With PTI inputs)
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