Warburg Pincus, Faering Capital invest `300 crore in Biba Apparels | Mint
Active Stocks
Fri Feb 23 2024 15:58:13
  1. Tata Steel share price
  2. 145.50 -0.24%
  1. State Bank Of India share price
  2. 759.40 -0.86%
  1. HDFC Bank share price
  2. 1,420.90 0.08%
  1. NTPC share price
  2. 337.70 -0.54%
  1. ITC share price
  2. 411.60 -0.65%
Business News/ Companies / News/  Warburg Pincus, Faering Capital invest `300 crore in Biba Apparels
BackBack

Warburg Pincus, Faering Capital invest `300 crore in Biba Apparels

Biba Apparels says investment includes a fund raise, providing an exit to investor, Future Lifestyle Fashions

Warburg Pincus MD and co-head, India, Vishal Mahadevia, said Warburg’s investment in Biba reflects its recognition of the company’s high-quality management team led by Siddharath Bindra. Photo: MintPremium
Warburg Pincus MD and co-head, India, Vishal Mahadevia, said Warburg’s investment in Biba reflects its recognition of the company’s high-quality management team led by Siddharath Bindra. Photo: Mint

New Delhi: Private equity (PE) firms Warburg Pincus and Faering Capital have invested about 300 crore in Biba Apparels, a firm engaged in women and girls’ ethnic wear.

“The investment includes a primary fund raise and provides an exit to the existing investor, Future Lifestyle Fashions Ltd (FLFL). The transaction is the largest private equity investment in the Indian ethnic wear market," Biba said in a statement.

On 12 November this year, Future Lifestyle Fashion Ltd part of Kishore Biyani-led Future Group, had divested its minority stakes in Biba Apparels.

Commenting on the development, Biba managing director Siddharath Bindra said: “I am very happy to be able to provide a healthy exit to Future Lifestyle Fashions Limited, who has been an excellent partner to the company so far. I am also very excited to now have as partners Warburg Pincus and Faering Capital, as we scale up Biba to the next level."

Warburg Pincus managing director and co-head India Vishal Mahadevia said: “Warburg Pincus’ investment in Biba reflects its recognition of the company’s high-quality management team led by Siddharath Bindra. We are excited to partner with BIBA’S management team as they continue to grow the business going forward."

Biba Apparels, which was established in 1986, has over 330 sales points across the country.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 05 Dec 2013, 10:03 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App