Private equity firms Warburg Pincus and Faering Capital have invested about Rs 300 crore in Biba Apparels, a firm engaged in women and girls’ ethnic wear.
“The investment includes a primary fund raise and provides an exit to the existing investor, Future Lifestyle Fashions. The transaction is the largest private equity investment in the Indian ethnic wear market,” Biba said.
On November 12 this year, Future Lifestyle Fashion, part of Kishore Biyani-led Future Group, had divested its minority stakes in Biba Apparels.
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