Chennai, February 07, 2012 : South based (Chennai) wind turbine manufacturer ReGen Powertech has raised Rs 100 crore of private equity funding from IDFC PE and MCap Fund Advisors. ReGen sells its wind turbines under a licence from and under the brand name of ‘Vensys’, closed last year with a turnover of Rs 1,250 crore.
Promoted by the Hyderabad-based Nuziveedu Seeds group, which holds 42 per cent in company. Mr Madhusudan Khemka, Managing Director ReGen, and Mr Sundaresh hold 21.5 per cent and the rest of the stake is held by Everstone Capital, a private equity fund.
Management expressed its intention to go for public issue, may raise between 400-500 crore from market. Based on said deal, ReGen is being valued at Rs 1,600 crore.
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