Marico to raise $100 mn from PE funds via stake sale: Sources

MUMBAI: FMCG major, Marico wants to raise $100 million via stake sale and is in talks with private equity players like GIC, Temasek, Khazana for the stake sale, sources said.

Marico could be selling close to 5% stake in the parent company for raising $100 mn. Valuation talks for stake sale are in-line with the present market capitalisation of Marico. Citi and Kotak Investment Banking are likely advisors to Marico for the fund raising process.

Marico is looking at de-leveraging it’s balance sheet after making the big acquisition of the personal care business of Paras which was acquired by Reckitt Benckiser and then sold off. Marico has bought Set Wet, Livon, Zatak and certain other personal-care brands

Marico spokesperson said, "We do not comment on speculation and hence cannot either confirm or deny queries on this."