India Business Excellence Fund II and India Business Excellence Fund IIA, funds managed and/or advised by Motilal Oswal Private Equity Investment Advisors Private Limited , invest INR 750 million in Glass Wall Systems Pvt. Ltd
Funds managed and/or advised by Motilal Oswal Private Equity invests INR 750 million in Glass Wall Systems (India) Pvt. Ltd
Mumbai, June 24, 2014: India Business Excellence Fund II and India Business Excellence Fund IIA, funds managed and/or advised by MOPE Investment Advisors Private Limited ("MOPE"), invest INR 750 million in Glass Wall Systems (India) Pvt. Ltd ("Glass Wall"/ the "Company"), India's largest player in the field of design, engineering, manufacturing, supply and installation of architectural glass facade system in India.
Co-founded in 2002 by Jawahar Hemrajani and Kamlesh Chaudhari, the Company has executed more than 1,000,000 sq. mtrs of façade work attributable to more than 125 completed projects across India including residential buildings, corporate & commercial office buildings, malls, hotels, IT parks, airports and stadiums.
Some of the projects executed by the Company in India are Antilia, residence of Mukesh Ambani, The Capital in BKC; One India Bulls Center, One India Bulls Finance Center, Marathon Futurex and is currently executing projects like World One, the tallest residential tower in the world, Kohinoor Square, the largest office space in Mumbai and Ahuja Towers, a ultra luxurious residential apartment in the upscale Prabhadevi, Mumbai.
The Company has been awarded "Best Façade Contractor" by Construction Week for the last two consecutive years.
Traditionally façade was largely used in commercial buildings. However, over the last 8-10 years, with high economic growth, focus on aesthetics, growth in income, and growth in high rise construction is driving wide usage of façades even in premium residential buildings.
This presents a tremendous opportunity for Glass Wall which is well poised for an accelerated growth and is ably supported by strong investors.
According to Jawahar Hemrajani and Kamlesh Chaudhari, Co-founders of Glass Wall, "Investments by funds managed and/or advised by MOPE will help us to set up a state of the art fabrication cum processing facility for facades in Mumbai.
This facility will significantly increase our capacity by 3-4 times enabling us to cater larger number of projects. We will also be setting up satellite assembly units in multiple cities in India which will enable us to expand our reach, serve our customers faster and better and become a true Pan India player.
We strongly believe that MOPE is one of the premier private equity fund manager in India. Its experience of managing more than 15 companies will bring lot of value to us as we endeavor to build a world class organization."
Mr. Raamdeo Agrawal, Chairman of MOPE concludes," Glass Wall is the market leader in India and is well poised to leverage its marquee client base to achieve a phenomenal growth. We believe that the demand and penetration for glass facades on buildings in India will increase in line with developed countries thereby providing opportunity for exponential growth.
About Glass Wall
Based out of Mumbai, the Company was started by Jawahar Hemrajani and Kamlesh Chaudhari in 2002 with the largest façade project at that time of Reliance Petroleum HQ in Ghansoli, Mumbai. Both Jawahar and Kamlesh prior to setting up Glass Wall were in the powder coating and fabrication business. With more than a decade of experience, the Company has been to establish a very strong reputation and enjoys preferred relationships with most of the marquee developers and civil contractors in India.
Glass Wall has a state of the art factory at -Ambernath, Thane where all kinds of architectural facade systems either in glass or aluminum are manufactured and an assembling unit in Gurgaon. Over the last five years, the Company has exhibited healthy growth ratio at 23% CAGR both in terms of revenues and profits and has generated very high ROCE and RONW upwards of 30%. Globally, facade contracting is a very large and well penetrated industry with few large players in major geographies including the like of Permasteelisa, Beijing Jiayu, Jhango, Yuanda, Apogee. In India, wide usage of facade has been prominent only in the last decade and with high economic growth, focus on aesthetics, growth in income, people willingness to pay and growth in high rise construction will drive usage of façades in both premium residential and commercial segments.
Glass Wall is well positioned to benefit from the increased usage of facades in India and become a very large player.
About Motilal Oswal Private Equity Business
MOPE Investment Advisors Pvt. Ltd. (MOPE) is a subsidiary of Motilal Oswal Financial Services Ltd. (MOFSL), a diversified financial services group with businesses in Securities, Asset Management, Private Equity and Investment Banking.
MOPE is currently managing two growth capital funds i.e. India Business Excellence Fund (IBEF) and India Business Excellence Fund II (IBEF II) focused on providing growth capital to mid market companies, typically in the range of US$ 10-20 million, across sectors. IBEF, launched in 2007 is an INR 550 Crore ($ 125 million) is fully invested and has thirteen portfolio companies across sectors such as food processing, bulk packaging, power transformers and power infra enablers, ITES, financial services, EMS, FMCG, auto components, etc. It has already made three partial exits. On the back of its success of IBEF, MOPE has raised IBEF II, a Rs.950 Crore (~USD 160 million) growth capital fund. Currently, investments are being made through IBEF II.
In addition, MOPE is also managing two real estate funds India Realty Excellence Fund (IREF) and India Realty Excellence Fund II (IREF II). IREF, launched in 2008 is an ~INR 200 Crore domestic real estate fund focused on equity investments in real estate projects in top three cities in India viz. Mumbai, Pune and Bangalore. IREF has made seven investments across asset classes and has partnered with mix of marquee and emerging developers like Godrej Properties, Supreme Universal etc.
On the back of its success, MOPE recently launched IREF II, an INR 500 Crore domestic real estate fund that invests in residential real estate projects primarily in mid income housing in Mumbai, Pune, Bangalore and selectively in Chennai and NCR.
The focus would be to ensure downside protection along with upside sharing by investing with reputed developers with an established track record.
About Motilal Oswal Financial Services Limited
Motilal Oswal Securities Ltd. is a part of Motilal Oswal Financial Services Ltd. (MOFSL). MOFSL (NSE: MOTILALOFS, BSE: 532892, BLOOMBERG: MOFS IN) is a well-diversified, financial services company focused on wealth creation for all its customers, such as institutional, corporate, HNI and retail.
Its services and product offerings include wealth management, retail broking and distribution, institutional broking, asset management, investment banking, private equity, commodity broking and principal strategies. The company distributes these products through 1,546 business locations spread across 519 cities and the online channel to over 792,858 registered customers.
MOFSL has strong research capabilities, which enables them to identify market trends and stocks with high growth potential, facilitating clients to take well- informed and timely decisions.
MOFSL has been ranked by various polls such as the Best Local Brokerage 2005, Most Independent Research - Local Brokerage 2006 and Best Overall Country Research - Local Brokerage 2007 in Asia Money Brokerage Polls for India.
MOSL won 4 awards in the ET-Now Starmine Analyst Awards 2010-11, placing it amongst the Top-3 award winning brokers, was ranked No. 2 by AsiaMoney Brokers Poll 2010 in the Best Local Brokerage Category and won the 'Best Market Analyst' Award for 2 sectors at the India's Best Market Analyst Awards 2011.
MOFSL won the 'Best Capital Markets and Related NBFC' award at the CNBC TV18 Best Banks and Financial Institutions Awards 2011. MOSL also won the 'Best Equity Broking House' award for FY11 at the Dun & Bradstreet Equity Broking Awards 2011.
MOSL won the 'Best Performing National Financial Advisor Equity Broker' award at the CNBC TV18 Financial Advisor Awards 2013, for the 3rd year in a row.
MOSL won 'Best Equity Broker' award at Bloomberg UTV Financial Leadership Awards 2012, 'Retailer of the Year (Banking & Financial Services) award at Retail Excellence Awards 2012, and was ranked 2nd in the "Best Overall Brokerage" category by Asia Money in 2011.
Motilal Oswal Private Equity won 'Best Growth Capital Investor-2012' award at the Awards for Private Equity Excellence 2013. MOSL was adjudged amongst the Top 20 innovators in BFSI for 'Leveraging on technology in enhancing customer experience' at the Banking Frontiers Finnoviti Awards 2012, and won the 'Quality Excellence for Best Customer Service Result' award at National Quality Excellence Awards 2013.
For further details contact:
Mr. Hari Krishnan
Motilal Oswal Financial Services
Ph - +91-22-39825500
Mr. Anirudh Rajan / Alpesh Nakrani
Paradigm Shift Public Relations
Ph- +91-22 22813797 / 98
Mob- +91-9892343828/ +91-9869121167
Mr. Vishal Gupta / Prakash Bagla
Motilal Oswal Private Equity