Hinduja Group announces about its expansion plans in India
$25 billion Hinduja Group has committed $10 billion to invest in India and is currently in the process of screening five-six projects in the infrastructure sector. Gopichand P. Hinduja is hoping that the Hinduja Group will be third time lucky in investing in India in a big way after having failed to have done so in 1991 and 2010.
The Co-chairman of the Hinduja Group, Gopichand P. Hinduja said in a phone interview from London that the company will be raising the funds through internal accruals and through partners. The good news is that many foreign partners have expressed their interest to co-invest in India.
He also mentioned that the company is largely looking at the distressed power and road projects. They are only looking at brownfield projects that have already secured necessary clearances. The group is quite serious about these investments and has already asked two investment bankers to find suitable infrastructure projects to invest in.
The group is open to acquiring companies that offer synergy to its 10 areas of business: oil and gas, power, realty, banking, healthcare, automotive, education, infrastructure, information technology and media. Hinduja mentioned that they are looking at inorganic growth and are open to the idea of buying a pharmaceutical company or a brownfield port project that will complement their existing 10 businesses.
Source- Mint
automotive, banking, Education, Expansion plans, Gopichand P. Hinduja, Healthcare, Hinduja Group, Information Technology, Infrastructure, Power, Realty
