Aegis Logistics, a petrochemical storage and transport company based in Mumbai, says it has made $15.11 million (€10.66 million) from Kaup Capital’s investment. Kaup is a Mauritius private equity firm.
Kaup has allotted 2.12 million shares to the company for Rs322 (€5.09) each, it told the stock exchange, and Aegis says it now wants to sell 6.35% of the company to Kaup.
This new round of funding would be used to develop Aegis’ port terminal infrastructure projects which will be built around India’s coast.
Previously, Aegis made an agreement with Port Pipavav to build a 6KL oil terminal for Rs430 crore over the next 5-7 years. Aegis is certainly expanding, as it also acquired Shell Gas India last year.