Equirus advises Allygrow on its acquisition by Ceinsys

Mumbai (Maharashtra) [India], December 23 (ANI/NewsVoir): Equirus Capital acted as the financial advisor to Zodius backed Allygrow on its acquisition by BSE listed and Meghe Group backed Ceinsys Tech Limited (formerly ADCC Infocad Limited) in stock and cash transaction. Kreo Capital Private limited acted as deal advisor to Ceinsys Tech Limited.
Commenting on the acquisition, Sagar Meghe, Non-Executive Director and Chairman, Ceinsys, said, "The recent acquisition of Allygrow expands our capabilities in the core engineering design, development and manufacturing engineering services. Allygrow expands on our ability to serve global clients across various industries with their core expertise in Automotive and aerospace engineering. We are pleased to welcome Prashant and Allygrow's employees onboard and look forward to help our customers innovate at scale and deliver them next generation solutions."
Neeraj Bhargava, Chief Executive Officer, Zodius, said, "It was a pleasure to be part of Allygrow's journey since 2015 and seeing Prashant and team build a formidable organisation from grounds up. We are excited to remain partners for the journey ahead for the group and see what lies ahead."
Dr Abhay Kimmatkar, Managing Director, Ceinsys, said, "The acquisition would enable expand Ceinsys business domains globally through Allygrow international presence. Allygrow will add into the value chain of Ceinsys Tech's offerings for its customers. The synergies expands its horizons to Automotive. Ceinsys will have an unique positioning as an Indian brand with wide exposure & competencies in AEC & Manufacturing segments."
Commenting on the transaction, Prashant Kamat, Chief Executive Officer, Allygrow said, "We are excited to partner with Ceinsys and the Meghe Group on our journey of building the leading specialized engineering service provider. This strategic partnership indeed is an important milestone in Allygrow's journey, which is in line with our growth strategy 'Partnering for Growth'. We are excited at the prospect of leveraging the global expertise of both organizations and building a strong partnership based on state-of-the-art engineering skills."
Ajit Deshmukh, Managing Director of Equirus, said, "The Engineering Services space is at an inflection point. It is poised for exponential growth with traditional sectors like automobiles and aerospace moving towards digital platforms, and sectors such as medical devices and next-generation electronics leveraging benefits of the Internet-of-Things revolution. We are pleased to advise Allygrow on the transaction and excited to see what lies ahead for the new group."
CA Varun Parakh Managing Director of Kreo, said, "The IT Industry has been instrumental in placing Indian industries on a global map. The Indian IT industry has a significant contribution to the Indian economy being sized at ~7.9% of the country's GDP, along with being the largest contributor in total services exports (~45%). We are pleased to advise Ceinsys Tech Limited on this transaction and look forward to engage further with this new group."
Ceinsys Tech Ltd. (formerly ADCC Infocad Limited) is a CMMI (SVC & DEV) Level 5 and a BSE Listed company. Ceinsys Tech Ltd is an IT arm of flagship Meghe Group which has a prominent presence in Central India. The Company is headquartered at Nagpur, Maharashtra having corporate office in Mumbai and branches in Delhi and Lucknow.
Over the years, the Company has built a strong reputation as a premier solution provider in Geospatial, Engineering and Enterprise IT solutions. Armed with highly energetic and passionate team of employees, the Company is in the position to deliver high volume turnkey solutions to its esteemed clients on a Pan India basis.
The unique strength of the Company lies in its deep expertise in cutting edge technologies in Geospatial, Water, Energy, Transportation business domains. This unique strength poises the Company to become the leading and most coveted partner of choice as a "Complete Solutioning Company" for mission critical projects of Government.
Allygrow is a technology driven organization that focuses on core engineering design, development and manufacturing engineering services. Conceptualized and setup by a highly experienced and successful team, Allygrow has and will continue to establish a strong ecosystem which will foster the right blend of high-end competencies clubbed with a global delivery excellence.
Equirus Capital provides full-service Investment Banking services for corporate clients and HNI customers and offers services covering equity capital markets, debt capital markets, structured finance, PE, M&A, insurance broking, and wealth management. Its wholly owned subsidiary Equirus Securities is a member of NSE and BSE.
It also offers depository services, portfolio management, and research apart from institutional equities. Equirus has done more than 180 transactions across M&A, PE, IPOs, QIPs, Rights Issue, and Structure Finance raising c. $6 billion in the process. Over the last 14 years, Equirus has built impeccable credentials across domains and has created a niche for itself in its ability to structure and deliver transactions in line with the client requirements. www.equirus.com
Kreo Capital is a boutique SEBI registered investment bank with Mid Market focus, offering integrated financial services in areas such as Capital Markets, Corporate Finance Advisory, Wealth Management Advisory, Mergers and Acquisition Advisory, ESOP & Valuation Advisory, Equity/Debt Placements and Restructuring. www.kreocapital.com.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)