Private credit platform Modulus Alternatives Investment Managers has infused Rs 105 crore in Shivam Autotech as part of its commitment to invest Rs 150 crore in the company. The proceeds of the investment will be utilised for both growth and working capital.
This is the maiden investment of the platform's second private credit fund, India Credit Opportunities Fund II (ICOF II), which was launched earlier this year. Shivam Autotech, a Hero Group company, is Modulus Alternatives' 16th investment, thus taking the total invested capital to Rs 1,895 crore in the private credit platform.
Shivam Autotech is one of the largest manufacturers of transmission gears and shafts in India. The company has been serving a large number of automobile manufacturers as their principal component partner for the past many years.
