Courtesy: Vardhman
Barring Private Equity Partners India has exited its portfolio company Vardhman Textiles at a time when private equity participation has continued to touch new highs in India. The domestic private equity firm had exited listed non-banking financial company Muthoot Finance, domestic consumer products giant Marico and Godrej Consumer Products in September.
The development comes after the reported purchase, about a month back, of the entire stake of Marubeni Corporation and Marubeni Hong Kong and South China Limited by VMT Spinning Company, a subsidiary of Vardhman Textiles, one of the largest textileconglomerates in the country, according to a report in a leading Indian business daily.
Private equity firms have invested $17.6 billion over the first nine months of 2017, more than the earlier high of $17.3 billion, recorded in calendar year 2015, according to Venture Intelligence, a leading source of information and analysis on private company financials and transactions. (DS)
Source Fibre2Fashion News Desk – India