Raymond finds investor

L Capital Asia, the private equity arm of LVMH, one of the world’s leading luxury brands, is on the verge of investing about $150 million (Rs 750 crore) in Raymond Apparel. Once the deal between L Capital Asia and the Raymond Group arm for a minority stake materialises, it will be the largest private equity investment in an Indian apparel company. The stake to be bought is likely to be between 10-20 per cent.