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Franklin Templeton invests in Hyderabad infrastructure construction firm

Franklin Templeton Private Equity Strategy, a private equity portfolio managed by Franklin Templeton Asset Management (India) and advised by Darby Asia Investors (India), has invested up to INR600m in Hyderabad-based GKC Projects.

GKC provides construction services in key infrastructure areas such as roads, irrigation, power (civil portion) and pipelines, and has operations across various regions in India.

The company now plans to execute projects of a larger size and complexity in its existing segments and venture into new areas such as railways and mining.

The funds will be used to execute pipeline projects and enable acquisition of larger projects.

Deepa Sankaran, managing director, Darby India, says: "We are pleased to advise the GKC Projects investment is being added to the FTPES portfolio. The company fits perfectly with FTPES’s strategy of investing in medium-sized companies with strong growth prospects, high caliber management and excellent product quality."

FTPES is a private equity investment product offered to high net worth individuals in India and closed in 2008 with a total capital commitment of INR6,300m. The objective of FTPES is to make selective investments in high growth, mid-sized unlisted companies in India in areas such as infrastructure, manufacturing, and consumer goods, and in related sectors.

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