Tata Opportunities Fund (TOF), the private equity fund advised by Tata Capital, has invested Rs 335 crore (around $55 million) in Tata Projects (TPL).
Headquartered in Hyderabad, TPL is an engineering, procurement and construction (EPC) services company of the Tata group having revenues of Rs 3,444 crore in FY14-15, PBDIT of Rs 295 crore and an order book of over Rs 16,000 crore.
TOF has purchased secondary stakes from four Tata companies — Tata Steel, Tata Motors, The Indian Hotels Company and Tata International — and had taken stakes in Tata Projects after the company was formed in 1979. The fund has been invited to appoint a nominee to the board of the company.
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