Crompton Greaves on Thursday had announced the demerger of its consumer products business unit into a separate company
Crompton Greaves on Thursday had announced the demerger of its consumer products business unit into a separate company and also opened doors for foreign investors by raising the investment limit to 100 percent of the paid-up equity share capital.
According to sources, the group may sell up to 10 percent stake in the demerged consumer products entity to private equity players, with valuations standing at around Rs 8000 crore. So far, Bain has emerged as the only serious PE player in talks to acquire stake.
While Avantha spokesperson denied stake sale to Bain, the PE player did not comment to CNBC-TV18 query.
Crompton Greaves holds 25 percent plus 1 share in demerged consumer products business. The Avantha Group is likely to hold nearly 32 percent in the demerged company.
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