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Aug, 25 2014

SAIF, Aditya Birla Private Equity to invest RS 80 crore in Manpasand Beverages

SAIF Partners include 30 percent stake in Gujarat based company.

SAIF Partners, the South Asia-focused private equity firm is increasing its stake in Gujarat based Manpasand Beverages ahead of the company's planned initial public offering (IPO). SAIF Partners, along with Aditya Birla Private Equity is planning to invest Rs 70-80 crore in a pre-IPO round of fund raising by the company in a transaction that values Manpasand Beverages at Rs 1,000 crore company.

Speaking on the same, an investment banker aware of the development, said, "The company has raised Rs 80 crore ahead of its proposed IPO and will come out with the issue by next financial year.”

Vishal Sood, MD, SAIF Partners confirmed the investment by mentioning that, “We have invested just over Rs 70 crore along with Aditya Birla PE. Post the investment, SAIF holds just under 30 percent stake in the company."

Manpasand Beverages is the manufacturer of Sip brand of fruit juices in mango, apple and other flavours. The company has appointed investment banks Kotak Mahindra Capital and India Infoline to manage the IPO. Aditya Birla Private Equity will roughly own a stake of around 5 percent in the company after the transaction.  The company plans to raise Rs 250 crore through its public offering. SAIF will partly exit its stake in the company.

The company is looking at raising capital through the IPO for further capacity expansion. It is planning to set up more factories and expand the Varanasi facility. The company is expected to earn revenue of around Rs 500 crore in FY15, up from about Rs 300 crore in the previous year.

Commenting on the same, Dhirendra Singh, MD, Manpasand Beverages, said, "We had initially focused on tier-II and tier-III markets which were our target markets. There is still a great supply gap in those markets.”

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