In a strategic move to bolster India’s growth trajectory towards an $8 trillion economy, Abakkus Asset Manager’s Four2Eight Opportunities Fund has led a ₹175 crore investment in Stelmec Limited, a leading manufacturer of medium-voltage (MV) switchgear and electrical power products. The investment, structured and executed by Hem Securities Ltd. as the exclusive financial advisor, underscores Abakkus’ commitment to supporting mid-to-late-stage companies with strong business models, profitability, and IPO potential. 

Stelmec, a three-decade-old company, specializes in vacuum circuit breaker technology and provides end-to-end solutions for utilities, including the engineering, procurement, and construction (EPC) of high-voltage substations and transmission & distribution (T&D) lines. The fresh infusion of capital will be utilized to expand operations, enhance research and development, and strengthen Stelmec’s market presence both domestically and internationally. 

Ankit Aggarwal, Fund Manager of Abakkus Four2Eight Opportunities Fund, emphasized that Stelmec’s focus on innovation and quality aligns seamlessly with Abakkus’ investment philosophy. He also stated Stelmec’s proven track record and leadership in the electrical solutions sector make it a strategic addition to their portfolio.

The Abakkus Four2Eight Opportunities Fund, the first private equity fund under Abakkus Asset Manager Private Limited, was founded by industry veteran Sunil Singhania. The fund targets high-growth companies with IPO visibility in the next 2-3 years, aiming to capitalize on India’s burgeoning economic potential. 

Disclaimer:

Abakkus Four2Eight Opportunities Fund is a scheme of India-Ahead Private Equity Trust, a SEBI-registered Category II Alternative Investment Fund (SEBI Reg. No.: IN/AIF2/21-22/0980 dated January 27, 2022). The Fund completed its final closing on September 30, 2024, and is no longer open for subscription. This document is for informational purposes only and is not approved, certified, or verified by SEBI.  This investment marks a significant step in Abakkus’ mission to support India’s infrastructure development and industrial growth, positioning Stelmec as a key player in the electrical solutions sector.