Kidswear maker and retailer Lilliput today said it will sell an undisclosed stake to private equity firm TPG Growth for around Rs 115 crore.
This will be second time the capital-based retail player dilutes stake within a week after agreeing to sell 31 per cent stake for around Rs 270 crore to private equity player Bain capital.
The company said one of its old stakeholders, Everstone Capital, will be exiting the company. Everstone had held an undisclosed stake in Lilliput since 2006.
“We are thrilled that Bain Capital and TPG Growth have decided to invest in Lilliput,” Lilliput Kidswear Ltd Managing Director Sanjeev Narula said in a statement.
He said the company's experience of working with Everstone Capital encouraged it to continue to partner the two leading global private equity players to realise its goals.
Source: PTI News