The family of Atul Kirloskar and other group companies hold about 60% stake in Kirloskar Oil Engines while Singapore-based private equity firm Nalanda Capital holds about 10%. The Kirloskar group, founded in 1888 by Laxman Rao Kirloskar, currently clocks over $3.5 billion a year in revenue. “As a matter of policy, KOEL does not respond to any kind of speculations and rumours,” said a Kirloskar Oil Engines spokesperson. Founded in 1946, Kirloskar Oil Engines manufactures and services diesel engines, agricultural pumpsets and generators. Kirloskar Oil Engines, Cummins India, Ashok Leyland and Mahindra Powerol are the leading diesel generator makers in India.

Source: Mint March 29, 2018 23:48 UTC