Escorts Eyes Overseas Buyout

After ploughing through Indian fields, Escorts is now turning to exotic instruments for vineyards. These will be smaller farm equipment for which Escorts is planning to acquire a company in the overseas market.The tie-ups will be to enter the sub-35 horsepower and the more-than-85 hp tractor variants. For Escorts, this will be another leaf of its debt restructuring.The recently raised QIP of Rs 300 crore to be used partly for debt and partly for buyouts.

With the company expanding in Ghana and larger Africa, plus tying up with a large Chinese and Japanese player, the firm is not ruling out future fund raising. From a market share that nearly halved to under 10 per cent over five years, Escorts is back up to 16 per cent now and hopes to diversify its product range into order to boost their tractor and equipment sales.