Aditya Birla Private Equity Among Anchor Investors in Monte Carlo Fashions IPO (Asia)

Source: VCCircle

India-focused investment manager Aditya Birla Private Equity has acquired a 2.5 percent stake in India-based apparel manufacturer Monte Carlo Fashions for INR350 million (approximately US$5.6 million). The transaction, which was part of an anchor investor allotment ahead of the company’s public issue on the Bombay Stock Exchange and the National Stock Exchange, was structured through Aditya Birla Private Equity Fund I and Aditya Birla Private Equity Sunrise Fund. Other anchor investors included mutual fund schemes under financial services companies Tata Capital and Birla Sun Life. The IPO comprised entirely of shares offered by India-focused private equity firm Samara Capital and the company’s promoters.