CLSA invests in Indian power technology business

CLSA Capital Partners has invested $20 million in Luminous Power Technologies, an Indian manufacturer of power inverters deploying an Asian growth capital fund and a regional clean tech fund.

CLSA Capital Partners, an Asia-focused private equity firm based in Hong Kong and Singapore, has invested $20.3 million in Luminous Power Technologies, a power technology company that designs and manufactures inverters, uninterruptible power supply and automotive batteries based in Delhi. The company also makes water purification and other home appliances.

The firm is investing from two investment vehicles: ARIA Investment Partners III, a pan-Asian growth capital fund and CLSA Clean Resources Asia, which was launched last year with $11 million to invest in listed equities and pre-IPO opportunities.

Luminous is ARIA Investment Partners’ seventh investment in India, according to a statement.

Genevie Heng, a director at CLSA Capital said the company will benefit India’s frequent power failures.

Rakesh Malhotra, managing director of Luminous said the investment will “provide a strong impetus for our future growth in India and markets across Asia, Africa and Latin America.” Luminous is also looking to offer high technology power electronics and energy storage products for the renewable energy sector, he said.