INOXCVA gains $45m investment

Standard Chartered Private Equity (SCPE) has invested INR 2,500m (US$ 45m) for a minority stake in INOXCVA, a leading global manufacturer of cryogenic storage and transportation equipment.

Cryogenic storage equipment is a precision engineering product used for storage and distribution of liquefied gases used in industrial applications. The advent of shale gas as a fuel source has also resulted in strong demand for cryogenic storage equipment for liquefied natural gas (LNG) across the globe, especially in the US. INOXCVA, as a top five global player in cryogenic equipment manufacturing, is well placed to leverage these growth opportunities.