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October 16, 2014

Deal Alert: Biba acquires 26% stake in fellow apparels firm Anju Modi

Retail brand Biba Apparels has acquired 26.66% stake in Anjuman Brand Designs which is engaged in the business of designing, manufacture and sale of garments under the brand name "ANJU MODI" and has 10 exclusive stores in India and is also engaged in e-commerce. Biba also acquired certain convertible debentures in Anjuman Brand Designs Pvt Ltd. Khaitan & Co advised Anju Modi.

From the Venture Intelligence PE Deal database: In September 2013, Warburg Pincus and Faering Capital had invested $54 million in Biba Apparels.

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