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Apar Industries succeeds in raising 
80 Crore
By siliconindia
Mumbai: Apar Industries, a CLSA Private Equity Backed power equipment and oil- based products maker, succeeded in raising 
80 crore by selling 10.11 percent stake to Templeton Strategic Emerging Markets Fund, reports VCCircle.
Templeton Strategic Emerging Markets fund have purchased 3,636,363 shares at a price of 220 per share on preferential allotment basis and will be locked in for a period of one year. The fund will be utilized for part-financing and capital expenditure towards the business, to strengthen the core working capital requirements of the firm and repayment of loans.
Founded in 1958 by Late Dharmsinh D. Desai, Apar Industries operates in the diverse fields of electrical, metallurgical and chemical engineering. Today, it is a $500 million diversified company offering value added products and services in Power Transmission Conductors and Petroleum Specialities.
Apar recently acquired a strategic stake in Uniflex Cables, a manufacturer of wide range of Power and Telecom cables. Currently it has storage distribution and processing facilities in Sydney (Australia), Gebze (Turkey) and Durban (South Africa).
80 crore by selling 10.11 percent stake to Templeton Strategic Emerging Markets Fund, reports VCCircle.
Templeton Strategic Emerging Markets fund have purchased 3,636,363 shares at a price of 220 per share on preferential allotment basis and will be locked in for a period of one year. The fund will be utilized for part-financing and capital expenditure towards the business, to strengthen the core working capital requirements of the firm and repayment of loans.
Founded in 1958 by Late Dharmsinh D. Desai, Apar Industries operates in the diverse fields of electrical, metallurgical and chemical engineering. Today, it is a $500 million diversified company offering value added products and services in Power Transmission Conductors and Petroleum Specialities.
Apar recently acquired a strategic stake in Uniflex Cables, a manufacturer of wide range of Power and Telecom cables. Currently it has storage distribution and processing facilities in Sydney (Australia), Gebze (Turkey) and Durban (South Africa).
