Lighthouse India Fund III, an affiliate of private equity firm Lighthouse Advisors, recently said it has invested over ₹250 crore ($35 million) to acquire a minority stake in footwear firm Aqualite Industries. The company, which did not disclose the exact size of the acquired stake, plans to use the capital for marketing, capacity expansion and growth plans.
The company has a distribution network of 35,000 retailers across India. This one marks the fourth investment for Lighthouse this year.Lighthouse India Fund III, an affiliate of private equity firm Lighthouse Advisors, recently said it has invested over ₹250 crore ($35 million) to acquire a minority stake in footwear firm Aqualite Industries. The company, which did not disclose the exact size of the acquired stake, plans to use the capital for marketing, capacity expansion and growth plans.#
Aqualite, with two manufacturing units in Haryana and Rajasthan, is expecting a turnover of over ₹800 crore this fiscal, according to a news agency report.
Last month, Lighthouse had invested ₹160 crore in Duroflex, a mattress brand in south India. In September, it had invested ₹113 crore in beauty retailer Nykaa, while in June it had pumped in ₹83 crore in Tynor Orthotics, an orthopaedic soft goods brand. (DS)
ALCHEMPro News Desk – India
marketing@alchempro.com
