Industrials
Rinac raised funds through non-convertible debentures
About
Rinac
Headquartered in Bangalore, Rinac is considered a pioneer in modular cold rooms. The company provides end-to-end solutions for the cold chain and modular construction industries and its products include cold rooms, cold ware houses, pre-cooler pack houses, banana ripening chambers, step in chiller, display chiller, refrigerated transportation, ammonia based cooling equipment, modular construction, insulated roofing, shelters and kiosks. The company’s infrastructure includes a 35,000 sq. ft. facility in Bangalore and a 65,000 sq. ft. facility in Mumbai.
Background
Modular Cold Rooms Private Limited, a company wholly owned by the promoters of a leading end-to-end solutions provider for cold chain and modular construction industries, Rinac India Limited (“Rinac”), has acquired shares held by private equity investor Avigo Capital (“Avigo”). The transaction was backed by Piramal Finance.
Veda Corporate Advisors was the exclusive financial advisor to the Promoters of Rinac. VedaCorp provided comprehensive transaction advisory services, including deal structuring and negotiation of agreements, leading to the successful closure of the transaction.