Premji Invest puts $30-40M into Hical
By Abha Lohia · Editor ·
Hical Technologies: funding and every story →
Growth equityBengaluru
- Hical Technologies makes actuators, motors, solenoids and transformers for aerospace and defence customers worldwide
- Premji Invest is putting in an estimated $30-40 million in equity to fund factory growth and engineering and research depth
- The firm is building a plant in Hosur, has opened one in Devanahalli, and earns over 90% of revenue from exports
What happened
- Premji Invest is the investor.
- Equity of $30-40 million is reported.
- Money goes to capacity and engineering.
- A new Hosur plant is being set up.
Why it matters
- Over 90% of sales are exports.
- It supplies makers of the Rafale jet, Boeing and Airbus parts.
The business
- Makes actuators, motors, solenoids and transformers.
- Over 1,000 part numbers for commercial and business jets.
- Parts also fly in ISRO launch vehicles.
Who put in money
- Premji Invest Investor
Terms in this story
- Private equity: Venture capital backs young companies that could grow very fast, taking small stakes and accepting that many will fail, while private equity backs mature companies, often with large or controlling stakes and steadier returns. In India both usually invest through SEBI-registered AIFs, with venture capital funds in Category I and most private equity in Category II.
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