LivGuard, India’s fastest growing automotive battery, inverter battery and solar manufacturer, has raised over Rs 170 crores from ChrysCapital and Rs 50 crores from Ncubate Capital Partners (investment arm of the SAR Group) to fuel its ambitious expansion plans and become a top 3 integrated energy storage company in India over the next few years. ChrysCapital, is India’s largest home-grown private equity fund with an AUM of approximately $4 bn, having made 80+ investments in India and delivered over 65 exits.
Started in 2014, LivGuard has already established itself as a strong player in the energy solution space in India and global markets. The brand operates under the SAR Group, which has an incredible legacy of 30 years. The investment will help LivGuard to further accelerate its growth across all segments through capacity enhancement, moving into electric vehicle lithium battery space, new product development, brand and distribution.
Speaking on the occasion Mr. Rakesh Malhotra, Founder & Mentor, LivGuard said, “We are thrilled about ChrysCapital investing and is a testament of what we have already achieved to set a strong foundation for future. This investment will accelerate our existing business plans and develop future technologies. Since, there is a space for strong player in the market; this investment will help us to grow further in this sector”
Speaking on the investment Mr. Navneet Kapoor, Chairman & Co- Founder, LivGuard said, “With this strategic funding, we are looking forward to augment innovation and technology to scale up our product portfolio and manufacturing across the country.”
Commenting on the announcement Mr. Gurpreet Singh Bhatia, CEO, LivGuard said, “The investment is crucial for us to build the brand, distribution thereby ensuring a sustained accelerated growth.”
Commenting on the investment, Raghav Ramdev, Director, ChrysCapital said, “ChrysCapital is excited to partner with LivGuard in its journey to become a leading battery manufacturer. LivGuard has scaled well over the past few years and has built a strong pan-India distribution network along with an excellent manufacturing footprint.”
Grant Thornton was the exclusive financial advisor for this transaction.
About LivGuard
LivGuard is a leading player in the energy storage space in India started in 2014 by Rakesh Malhotra and Navneet Kapoor. Within a short period, LivGuard has built a comprehensive product portfolio with a pan India distribution network and a comprehensive product portfolio of inverters/inverter batteries, automotive batteries, stabilizers and solar batteries. It has scaled to ~Rs 1,400 crores in revenues over this time-period and has become India’s fastest growing battery manufacturer with an aim to become a Top 3 player over the next few years.
About ChrysCapital
Founded in 1999, ChrysCapital is one of the largest and most established India-focused private equity firms with approximately $4 billion AUM across eight funds. Since inception, the firm has deployed approximately $3 billion in over 80 investments across Business Services, Financial Services, Manufacturing, Healthcare and Consumer sectors, including some marquee investments such as Suzlon and Balkrishna Industries in the Manufacturing sector. ChrysCapital has realized over $5 billion from 67 full exits and several partial exits. The firm’s LP base includes sovereign wealth funds, university endowments, pension funds, global fund-of-funds, global insurance companies and family offices, amongst others. ChrysCapital’s funds have been ranked in the top decile of global private equity funds of similar vintage.
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