Kovai Pazhamudir Nilayam, a leading vegetable and fruits retail chain, has been valued at Rs.800 crore and WestBridge has successfully acquired 70% of its stake in an all-cash deal for about Rs 550-600 crore.
Coimbatore: WestBridge Capital, based in the United Kingdom, has purchased a majority share in Tamil Nadu's Kovai Pazhamudir Nilayam (KPN).
KPN, a vegetable and fruit retail chain, has been valued at Rs.800 crore, with WestBridge acquiring 70% of the shareholding in an all-cash deal of Rs 550-600 crore.
The chain, which has shops throughout Tamil Nadu, is believed to generate revenues of Rs 400 crore and is profitable.