Deven Mehta bets big on defence and data centre sectors

Nagpur: Boutique investment banker and Sigma Capital co-founder Deven Mehta is investing in defence manufacturing and data centres, sectors central to India's strategic push.Speaking to TOI on the sidelines of the IIM-Nagpur convocation, where he was the guest of honour, Mehta said he has made a substantial investment in Belgaum-based defence manufacturer Balu Forge through his family office. He also indicated plans for a significant investment in a US-based data centre company whose clients include Google, Facebook and Amazon, and which reports an annual turnover of around $750 million.Mehta, known for backing advanced manufacturing ventures, said the data centre sector is witnessing exponential growth, with nearly ₹4 lakh crore investments 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 said.On his defence investment, Mehta said Balu Forge manufactures shells and other defence equipment. It offers a strong technological edge driven by cost efficiency. He noted that capital expenditure in India can be nearly one-tenth of global costs. The company has acquired precision machinery from Ukraine, which was dismantled and brought to India, and will be installed at a 54-acre facility, he added.Mehta also hinted at upcoming investment announcements in an IT company and a Gujarat-based speciality chemicals firm.