Axon Partners closes Kavveri Telecom QIP

Axon Partners advised Kavveri Telecom Products, a Bangalore based telecom equipment maker, on raising approximately Rs. 39.86 crore, through issuance of equity shares, by way of a qualified institutions placement (QIP). Kavveri Telecom has successfully closed up a QIP despite the prevailing market conditions..Axon Partners’ Managing Partner Abhimanyu Bhandari is believed to have led the transaction. Axon also advised Enam Securities and Saffron Capital Advisors, the co-book running lead managers to the issue..Kavveri Telecom, parent company of the Kavveri Group, are manufacturers and exporters of wireless subsystem products such as radio-frequency products and antennas, providing end to end wireless solutions, with both Indian and global presence. One of its subsidiaries Kavveri Telecom Infrastructure Limited is a leading provider of in-building solutions for moblie networks in India..The Kavveri Group has companies in India, Canada and Europe and the money raised through this issue is for further overseas acquisition and development of the in-building solution business by further investments in Kavveri TelecomI..Kavveri Telecom after raising funds through QIP has recently acquired Spanish antenna maker Rymsa Telecom from Radiacion y Microondas SA in a move that will strengthen its existing sales channels for group firms in Europe and Latin America and also enhance its product portfolio, reports VCCircle.