"We have signed a Memorandum of Understanding (MoU) with AG Dynamic
He said the company is diluting nearly 13 per cent stake to raise USD 120.48 million fund. The enterprise value of the company is around USD 1 billion.
"The final agreement will be signed soon and the entire funding will come within the next three months," Gadhoke said.
AG Dynamic Funds will also get a seat on the company's board. Independent directors will also be appointed.
Gadhoke said the funds raised will accelerate growth and strengthen its market presence.
AG Dynamic Funds Limited is an India-focused fund based out of Mauritius which invests in both primary (Pre-IPO & IPO) and secondary markets.
RSIIL said the company has successfully completed orders of more than Rs 4,000 crore from
RSIIL said the funding will help the company in qualifying for a broader range of projects.
"We are excited to have AG Dynamic Funds on board as a significant stakeholder in our journey towards achieving remarkable industry milestones," the company's MD said. Ashwanee Ramsurrun, Director of AG Dynamic Funds the company has signed an MoU with RSIIL for investment of USD 120 million. "This collaboration signifies our confidence in RSIIL's potential and our shared vision for progress in the infrastructure sector," said Ramsurrun. *Gadhoke said the company's turnover is estimated to cross Rs 1,500 crore this fiscal and is the target to reach Rs 5,000 crore in 2026-27.
"We are also planning to launch an Initial Public Offer (IPO) within the next three years," he said.
Gadhoke said there is a huge potential for growth in India's infrastructure space, especially road sector.
The RSIIL mainly takes up government projects, he added.