New Delhi, Aug. 11 -- Non-banking financial company Capri Global is exploring a fundraise, Baazar Retail's private equity investors are looking at options to offload their shares, Multiples has signed a deal to invest in Giva, and Cafe Niloufer's parent is working with bankers for external capital, according to multiple media reports.
Capri Global Capital
Retail-focussed non-bank lender Capri Global Capital, which owns the brand Capri Loans, is evaluating a fundraise via a combination of primary and secondary share issuance, according to a Moneycontrol report.
The company is planning a round of close to $450-550 million (Rs 4,294-5,248 crore) via primary as well as secondary route, the report said, citing sources. However, no final decision has been made.
Moneycontrol said the promoters, who hold around 59.92%, are open to diluting a minority stake and onboarding a marquee private equity investor or a sovereign wealth fund.
Investment bank Citi and Jefferies have been picked as joint advisors for the proposed transaction, the report added.
Baazar Retail
Private equity firm Siguler Guff and other investors in Baazar Retail, the operator of retail chain Baazar Kolkata, are considering options to sell their stake in the company, according to a Mint report, citing sources.
The transaction is expected to value the company at around Rs 4,000-5,000 crore (around $419-524 million). o3 Capital is advising on the transaction, and the report added that several private equity funds and strategics have been tapped for the process.
Siguler Guff, o3 Alternatives and NR Group, the Mysuru-based company that makes Cycle-branded incense sticks, acquired a 51% stake in Baazar Retail in 2018.
Giva Private equity firm Multiples has inked a deal to acquire an $80-100 million (around Rs 763-954 crore) stake in jewellery startup Giva, likely valuing the company at about Rs 6,000 crore (around $629 million), a Mint report said.
The proposed transaction will be a mix of primary and secondary transactions, and the report added that it is expected to close in the coming weeks.
The capital raised through the primary issuance will fund new store openings, inventory line expansion and improving manufacturing capabilities, including in the lab-grown diamond segment.
ABR Cafe
ABR Cafe & Bakers Pvt Ltd, which operates Cafe Niloufer, is working with advisors to explore its first external fundraising round from investors, according to a Mint report.
The Hyderabad-based chain known for its Irani chai and bun maska has engaged PwC and The Rainmaker Group to explore funding options from external investors, the report said, citing sources. The deal is in the early stages and details regarding the stake sale quantum are yet to be decided, the report added.
The potential transaction could value the company at around Rs 1,500-1,800 crore (around $157-189 million), implying a ballpark of 4-5x forward-looking revenue multiple, Mint said.
Published by HT Digital Content Services with permission from VC Circle.