Company News – June 26, 2008
Sources in the Indian press say the private equity arm of IDFC has invested Rs 1.20 billion from its IDFC PE Fund II in shipping and logistics service provider Seaways Group.
One source, Business Standard, said the money will be utilized to fund the expansion of Seaway’s operations.
The Hyderabad-based firm is also planning to enter the market for capital dredging and is setting up warehouses and container freight stations across various cities in the country.