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TPG invests Rs 1.2 bn in Lilliput
24 Apr '10
1 min read
A minority stake for Rs 1.2 billion in Lilliput Kids-wear, children's apparel and accessories retailer, has been purchased by a private equity firm, TPG, informed a company official. Last week, an undisclosed stake for Rs 2.7 billion ($60 million) had been purchased by Bain Capital.
Everstone, a domestic investment firm, owned 35 percent stake in Lilliput, but exited its four-year old investments by selling all its shares to TPG and Bain Capital. Moreover, two new private equity (PE) firms also bought shares of the company, as per Sanjeev Narula, Founder and Managing Director, Lilliput.
These two PE firms purchased Lilliput shares, at a time, when the company is working towards raising funds by selling its shares to public, through a Initial Public Offering (IPO). The privately-owned Lilliput has over 260 stores in India and nine other countries.
Lilliput supplies products to multi-brand outlets in India as well as in other countries and includes the likes of GAP Kids, Primark, Old Navy and Carter's American Eagle.
Everstone, a domestic investment firm, owned 35 percent stake in Lilliput, but exited its four-year old investments by selling all its shares to TPG and Bain Capital. Moreover, two new private equity (PE) firms also bought shares of the company, as per Sanjeev Narula, Founder and Managing Director, Lilliput.
These two PE firms purchased Lilliput shares, at a time, when the company is working towards raising funds by selling its shares to public, through a Initial Public Offering (IPO). The privately-owned Lilliput has over 260 stores in India and nine other countries.
Lilliput supplies products to multi-brand outlets in India as well as in other countries and includes the likes of GAP Kids, Primark, Old Navy and Carter's American Eagle.
Fibre2fashion News Desk - India
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