Lehman Brothers to pick Ramky

NYSE-listed Lehman Brothers is going to take 10% in a Hyderabad-based Ramky Group for Rs 407 crore. Ramky Group is an infrastructure and realty company promoted by Ayodhya Rami Reddy with a turnover of around Rs.1, 600 crore.

Lehman Brothers who deals in different types of industries is a global financial services firm. It has its various branches across the world.

The company wants to expand its operation in Middle East and Singapore in addition to India. They are also willing to acquire mid-sized companies in Singapore and Middle East.

Ramky Enviro Engineers which get second highest PE funding. Last year, IL&FS and Sabre Abraaj introduced around Rs 125 crore ($28 million) in Ramky Infrastructure by picking up a 13.5% stake in Ramky Infrastructure.

Also, Lehman Brothers has invested around $80 million in a Bangalore-based research and development SEZ in Gandhi City. The company also provided funds by its PE arm in India.