IGE (founded in the year 1930) was the joint venture vehicle of General Electric and the Dabriwala family to operate diversified businesses in medical systems, financial services, real estate services, turbines and power services, payrolls, training, silicones and media. Since the Dabriwala family bought out GE’s stake in IGE it has made several investments in real estate, private equity and in listed companies. Among its earlier ventures it was a JV partner of Fanuc Japan in the Fanuc India venture for robotics, factory automation and numerical controls. It is one of the investment vehicles of the Dabriwala family promoted by Mr Rajendra Dabriwala and his son, Surbhit Dabriwala.
PNB MetLife India Insurance Company: PNB MetLife India Insurance Company was founded in the year 2001 and has been a joint venture between Punjab National Bank and MetLife USA and other financial investors including IGE.
International Conveyors Limited was set up in 1977 in technical collaboration with Scandura UK part of the BBA Group (British Belting and Asbestos Group) that was later acquired by Fenner Dunlop. ICL is the leader in mining consumables and manufacture of PVC underground mining belts catering to the Potash and Coal industry in India, United States, Canada, South Africa and Australia and has marquee customers such as Nutrien, Agrium, BHP Biliton, Mosaic, Glencore, Coal India, Tata Steel and the like.
Elpro International: Elpro International Limited (founded in the year 1961) was a joint venture between the Dabriwala family and General Electric responsible for the design and manufacturing of Power sub station equipment. GE divested its stake in the year 1997 and since then Elpro has forayed into a retail venture with Reliance Retail and set up built-to-suite office and R&D centres for automobile companies.
Kaer offers a holistic range of services to deliver a reliable and
efficient air-conditioning system that makes for green building.
Singapore-based company Kaer, is seeking to “revolutionise” this aspect of building management by combining advanced technology with a breakthrough business model.
Under its most successful package, Kaer designs, owns and operates a building’s chilled water plant. Building owners are spared upfront costs, instead paying Kaer a fixed rupee per refrigerant ton hour rate – a simple metric that helps companies understand their true air conditioning costs.
The Dabriwala family and Kaer have set up a 50:50 JV for India in 2016