Mumbai: Godrej Consumer Products is in talks with a clutch of private equity investors to raise $125 million, two sources with direct knowledge of the matter said on Tuesday.
The company is in talks with US giants Carlyle Group and Blackstone, as well as India’s ChrysCapital and Standard Chartered Private Equity, the sources said.
Godrej has hired JM Financial Ltd to arrange the deal, sources said.
The company’s board had earlier given approval to raise up to Rs3,000 crore ($662 million) in debt and equity to fund mergers and acquisitions.
Talks between Godrej Consumer and private equity firms were reported by Indian website VCCircle.com earlier on Tuesday.
The funds would be used to finance further acquisitions that the company is planning, sources said. A company spokesperson declined to comment. Spokespersons for Carlyle and Blackstone declined to comment.