*Bain Capital Advisors Pvt. Ltd* is buying an undisclosed stake in* Lilliput Kidswear Ltd* from *Everstone Capital* and *Sanjeev Narula* for around $60 Mn.
The money will be used by the company to add stores and extend its product range. Lilliput and Everstone have appointed audit and consulting firm *Ernst and Young India Pvt. Ltd *to manage the sale. The share sale by Everstone is part of an agreement with Lilliput to sell one-third of its stake before an initial public offering, a third during the public offer and the remaining after the public issue. Everstone will sell one-third of its 37% of its stake in Lilliput for around Rs100 cr. Transaction Note Lilliput Kidswear Limited, promoted by Sanjeev Narula, manufactures and retails apparel and accessories for boys, girls, toddlers, and infants in India and internationally. Sanjeev Narula owns about 67% stake in the company. Everstone has invested Rs120 cr in the company in 3 tranches between 2006 and 2010 through its *Indivision India Partners I fund*. It was reported that Lilliput Kidswear, Gini & Jony Limited and Koutons Retail India Ltd. might announce fund raising plans in the new fiscal through IPO, equity dilution, VC and PE investments. Everstone Capital- managed by *Sameer Sain*- has invested $300 mn out of Indivision I in 16 firms. In January, Everstone announced its plans to raise a second fund - Indivision India Partners II- with a corpus of $550 mn. Earlier this year, Bain Capital had invested Rs580 cr in *Himadri Chemicals*for a 35% stake- making Lilliput Bain's second investment in India. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
