BS Ltd to acquire 51 pc stake in Skywater India
Infrastructure company BS Ltd has made a foray into renewable water generation segment with its subsidiary BS Enviro Solutions agreeing to acquire 51 per cent stake in Skywater India, a part of New York-based private investment fund Harbinger Capital Partners.
Infrastructure player in power transmission and distribution BS Ltd (formerly known as BS TransComm Ltd) would not be making any upfront payment for the acquisition but would invest about Rs 25 crore in Skywater over the next couple of years.
According to Sanjay Sultania, Managing Director, BS Enviro Solutions Ltd, the equity acquisition will be through investment of about USD 5 to 6 million into the company over the next two years.
Skywater India manufactures and installs advanced air to water generators in areas with little or no access to clean drinking water. Its plant in Hyderabad has an installed capacity to make 200 units of air-to-water generators a month and each one costing Rs 10 lakh.
"Through its investment, BS Enviro will become the local operating partner of the business and will assume responsibility for the day-to-day management of Skywater India. This joint venture marks BS Enviro Solutions foray into the potable/ renewable water generation segment," Sultania said at a press conference.
He said the company has already installed about 50 machines across the country and is in the process of installing 100 more in Meghalaya.
BS Enviro solutions will leverage Skywater India's license for patented technology which generates water from the atmosphere.
The sophisticated atmospheric water generator produces ozone treated pure drinking water from moisture
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