Warburg Pincus Picking Up Around a 30 Percent Stake in Biba for Over US$50 Million (Asia)
Source: VCCircle | Author: Diksha Dutta
Global private equity firm Warburg Pincus has struck a deal to purchase around a 30 percent stake in India-based retailer Biba Apparels. Warburg Pincus will buy retail operator Future Ventures’ 28.3 percent stake for around INR2.97 billion (approximately US$47.4 million) and pick up a two to three percent stake from company promoter Siddharth Bindra for around INR300 million (approximately US$4.8 million). In a simultaneous deal, growth capital firm Faering Capital, structured through its India Evolving Fund, will invest INR200 million (approximately US$3.2 million) via a share subscription for around a 1.8 percent stake in Biba.