CCube Angels Network, a Singapore-based angel investing network and a group of investors have invested Rs.5.47 crore in Alfa Transformers Ltd, engaged in manufacturing of power and distribution transformers for more than 30 years.
Alfa plans to utilize the investment for further expanding the manufacturing capacities, meet the working capital requirements and expand to sub-Sahara African and SAARC countries.
According to a release, Alfa has reciprocated investor’s faith in the company’s business strategies by inviting Vipin Aggarwal, who has over 20 years of experience in fund management, fund raising, real-estate, and capital markets, to join the board as director.
In November last year, Alfa Transformers strengthened its operations and management leadership, which led to Alfa’s significantly improved operational parameters and it has now become one of the largest manufacturers for such items in Gujarat.
On the investment and on-boarding, Vipin Aggarwal, Principal – CCube Angels Network said, “We at CCube Angels believe that Alfa Transformers offerings have great potential as we can see the increasing demand for amorphous transformers. Alfa Transformers has a rich experience in its industry, has great potential to expand globally.”
He added that “The company has seen a shift from legacy transformers to amorphous transformers, which is a true example of the company’s broad mindset towards adopting new technologies and achieving the next level. We hope that the current investment will assist Alfa to further achieve its goals”.
Alfa has also invited Rahul Gupta as independent director to its board for further enriching the management. According to Gupta, “Alfa Transformers has the capability to feed India’s growing need for amorphous transformers and I am happy to join the management to share my experiences and guide them accordingly.”
Incorporated in December 1982 in Odisha, Alfa Transformers Ltd specializes in manufacturing energy-efficient amorphous distribution transformers, through its Bhubaneswar and Vadodara (Gujarat) facilities and has reputed foreign technical collaboration.
In November last year, Alfa Transformers strengthened its operations and management leadership, which led to Alfa’s significantly improved operational parameters and it has now become one of the largest manufacturers for such items in Gujarat.
Photograph shows internal view of one of the manufacturing facilities of Alfa Transformers Ltd
