Warburg Pincus and Faering invested in Biba
The estimated sum of investment is Rs 300 croreDecember 06, 2013 | comments ( 0 ) |
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.
- Reliance Retail & Jio to jointly launch new e-commerce platform
- CCI gives nod to Samara Capital-Amazon's joint bid to buy More
- SoftBank eyes 40% stake in FirstCry for $400 million
- Vivo India launches 'Vivo Xchange' program in partnership with Cashify.in
- Milkbasket expands operations to Bengaluru
- Manyavar launches another store in Punjab
- Ola raises Rs 150 crore from Flipkart's Co-Founder Sachin Bansal
- Ananth Narayanan steps down as Myntra Jabong CEO
- DailyNinja celebrates 15 million orders fulfilled
- John Jacobs looks to garner Rs 500 crore revenue by March 2021