Cethar Vessels , a Trichy based boiler maker is planning a big expansion program to cater to the increased demand of the boiler components, which they expect to be funded by Private Equity. ET reports that Private equity players such as Chryscapital, CVC and UTI Ventures are some of the names that the closely-held Cethar is learnt to be talking to for offloading part of the promoter stake. The funds infusion could be in the range of $50-100 million, according to people close to the development.
The boiler maker had said that they would need Rs. 900 crores to build more manufacturing facilities . That will be very good for the local economy.