Net4 India raises Rs 8.04 crore from PE firm to fund its expansion plan

Noida-based Net4 India, a network and application provider has raised Rs 8.04 crore through preferential allotment to a private equity firm Granite Hill India Opportunities Fund.

Apparently, the company has diluted 4.7% promoter share to Granite Hill India Opportunities Fund to fund its expansion plan. Further, the company will spend around Rs 75 crore on capex and will raise the money from internal accruals within the next three years.

Last December, another PE firm, Madison India Capital had invested Rs 14.9 crore acquiring a 9.2% stake in the company.