west bridge to invest in milkymist dairynews7x7

India-focussed investment fund WestBridge Capital is in the final stage of closing a deal to acquire a minority stake worth Rs 800 crore in Tamil Nadu-based dairy products brand Milky Mist.

Deal Details: WestBridge is likely to have valued the company at about Rs 7,000 crore, three people in the know told us. The fund which manages more than $8 billion in assets, had been focusing on investments in the new-age tech space over the past few years. But with a tech turbulent market prevailing, the fund is deploying capital in public markets and scouting for more predictable private businesses.

Milky Mist numbers: Milky Mist posted sales of around Rs 1,450 crore for the year ending March 31, 2023, rising 42% over the previous year. In FY22, the company reported sales of Rs 1,012 crore with a net profit of Rs 32 crore. Industry experts said, the company has been reporting an operating profitability of about 15% over the last three financial years.

Source : The Economic Times MAy 8th 2023

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