Mumbai: Air Works India Engineering Pvt Ltd, a Mumbai-based aviation maintenance, repair and overhaul services provider, is on the block, and its promoters and investors expect valuation of up to Rs 1,800 crore, three people with knowledge of the development said.
"Investment bank Jefferies has been appointed to look for buyers. Initial talks with local and global players in the segment have begun," a person with direct knowledge of the deal said. Investors such as New Enterprise Associates (NEA), GTI Capital, Elephant Capital, and Punj Lloyd that together own 71 per cent stake in Air Works "expect total value of Rs 1,500-1,800 crore", said another person involved in the talks.
An investment banker with knowledge of the deal said the company was initially considering an initial public offering. "However, the management and the shareholders have now decided to look for a strategic investor," the person said.
07/10/15 Sneha Shah/Economic Times
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"Investment bank Jefferies has been appointed to look for buyers. Initial talks with local and global players in the segment have begun," a person with direct knowledge of the deal said. Investors such as New Enterprise Associates (NEA), GTI Capital, Elephant Capital, and Punj Lloyd that together own 71 per cent stake in Air Works "expect total value of Rs 1,500-1,800 crore", said another person involved in the talks.
An investment banker with knowledge of the deal said the company was initially considering an initial public offering. "However, the management and the shareholders have now decided to look for a strategic investor," the person said.
07/10/15 Sneha Shah/Economic Times
