Private equity firms Warburg Pincus and Faering Capital have invested about Rs 300 crore in Biba Apparels, a retail firm engaged in women and girls' ethnic wear.
Commenting on the development, BIBA Managing Director Siddharath Bindra said, "I am very happy to be able to provide a healthy exit to Future Lifestyle Fashions Limited, who has been an excellent partner to the company so far. I am also very excited to now have as partners Warburg Pincus and Faering Capital, as we scale up BIBA to the next level.”
Warburg Pincus Managing Director and Co-head India Vishal Mahadevia said, "Warburg Pincus' investment in BIBA reflects its recognition of the company's high-quality management team led by Siddharath Bindra. We are excited to partner with BIBA'S management team as they continue to grow the business going forward."
BIBA Apparels, which was established in 1986, has over 330 sales points across the country.