Nagpur: Boutique investment banker and Sigma Capital co-founder Deven Mehta is channelling investments into defence manufacturing and data centres, two sectors that are pivotal to India's strategic push. Speaking to TOI on the sidelines of the IIM-Nagpur convocation, where he served as the guest of honour, Mehta revealed that he has made a substantial investment in Belgaum-based defence manufacturer Balu Forge through his family office. He also outlined plans for a significant investment in a US-based data centre company, whose clientele includes tech giants like Google, Facebook, and Amazon, and which boasts an annual turnover of approximately $750 million.
Focus on Advanced Manufacturing
Mehta, known for backing advanced manufacturing ventures, highlighted that the data centre sector is experiencing exponential growth. He noted that nearly ₹4 lakh crore in investments have been announced over the past two weeks alone. "The money is coming from all major players, domestic and international. We can provide the basic infrastructure for a data centre," he stated.
Defence Investment Details
Regarding his defence investment, Mehta explained that Balu Forge manufactures shells and other defence equipment. The company possesses a strong technological edge driven by cost efficiency. He emphasised that capital expenditure in India can be nearly one-tenth of global costs. Additionally, Balu Forge has acquired precision machinery from Ukraine, which was dismantled and transported to India, and will be installed at a 54-acre facility.
Mehta also hinted at upcoming investment announcements in an IT company and a Gujarat-based speciality chemicals firm, further diversifying his portfolio.
