The founders of Granules India Ltd’s are said to be in talks with private equity (PE) funds like the Blackstone group, KKR & Co, Advent International and Bain Capital to offload part of their 43% shareholding in the publicly-listed company. While the reason or extent of the possible stake sale isn’t immediately clear, a report in the Indian media has cited difficulty in succession planning as a driving factor.
A valuation of $500-550m in mind, the founding Chigurupati family has appointed Kotak Mahindra Capital to look for potential buyers for Granules