BanyanTree Growth Capital L. L. C, a Mauritius based private equity fund, has acquired 10% stake in Bhopal based GEI Industries.

GEI is a leading provider of heat transfer solutions to the oil, gas and the power sector. The firm specializes in air cooled heat exchangers and steam condensers.

GEI Industrial Systems stated in a release that the Investment Committee of Board of Directors of the Company at its meeting held on August 20, 2009, inter alia, have approved the allotment of 14.50 lakh equity shares of Rs 10/- each at Rs 75/- per share (including premium of Rs 65/- per share) to BanyanTree Growth Capital L. L. C., Mauritius on preferential allotment basis.

The stock closed today at Rs 64 on BSE. The counter has made 52-week-high and low of Rs 80 and Rs 24 respectively.