RMIT spin-off launches PE raise | Mr NZ exits Goldies | MA courts $2b property investor

Good evening,

IND Technology, the electricity grid safety start-up that was spun out of RMIT, is already among the country’s fastest-growing tech plays. Now it is seeking big money and an institutional investor, rattling the can for between $50 million and $60 million in return for a minority stake.

The Melbourne-headquartered business makes early fault detection systems for electricity grid operators. If it is successful in its raise ambitions, IND Technology could be worth between $200 million and $300 million.

Energy-focused private equity funds are the most likely targets for IND Technology’s corporate advisor Ord Minnett. It is also likely to pursue climate change, renewable and utilities investors in the United States, with non-binding offers expected this week.

Read the full story tomorrow and more on the Street Talk page.

The sharemarket climbed on Tuesday after the Reserve Bank of Australia struck a dovish tone on monetary policy and followed through with a widely expected 25 basis point interest rate cut.

Click here for the latest equity market wrap.