Key Takeaways
- • Private equity firms 360 ONE and TR Capital are among potential buyers in talks to acquire a 20-22% stake held by early investors in Hector Beverages, the company that owns the Paper Boat brand, according to people aware of the matter cited by The Economic Times.
- • The transaction is likely to value Hector Beverages at around ₹2,700-3,000 crore.
- • Existing investors A91 Partners (13.43%) and Sofina (18%) are in discussions to partially exit, while Footprint Ventures, Sequoia Capital and angel investors are looking to sell their entire stakes.
- • The secondary sale is expected to be completed ahead of Hector Beverages' planned IPO in 2027 and is aimed at cleaning up the cap table and consolidating shareholding among large investors.
- • Avendus Capital is advising on the transaction; GIC subsidiary Lathe Investment Pte is the largest shareholder with 34.97%.
Summary
Private equity firms 360 ONE and TR Capital are among the potential buyers in talks to acquire roughly 20-22% of Hector Beverages, the company behind the Paper Boat brand of traditional Indian beverages, according to multiple people aware of the development who spoke to The Economic Times. The transaction is likely to value the company at around ₹2,700-3,000 crore.
The stake is held by early investors. A91 Partners, which holds a 13.43% stake, and Sofina, with an 18% holding, are in discussions to partially exit their investments. Other early backers, including Footprint Ventures, Sequoia Capital and angel investors, are looking to sell their entire holdings. Individual early investors listed as looking to exit include Footprint Ventures (3.08%), Sequoia Capital (2.19%), Eudora Ventures (1.22%), Mirabilis Investment Trust (0.61%), Trifecta Capital (0.14%) and Stride Ventures (0.08%).
The secondary sale is expected to be completed ahead of Hector Beverages' planned IPO in 2027. Sources said the exercise is intended to clean up the company's capitalization table and consolidate shareholding among key large investors. Avendus Capital is advising on the transaction.
According to Tracxn data cited in the report, Lathe Investment Pte, a subsidiary and investment holding company of Singapore's sovereign wealth fund GIC Pte, is the largest shareholder with a 34.97% stake, while founder Neeraj Kakkar holds 8.20%. Other backers include NR Narayana Murthy-backed Catamaran Ventures and Hillhouse Capital.
The stake is held by early investors. A91 Partners, which holds a 13.43% stake, and Sofina, with an 18% holding, are in discussions to partially exit their investments. Other early backers, including Footprint Ventures, Sequoia Capital and angel investors, are looking to sell their entire holdings. Individual early investors listed as looking to exit include Footprint Ventures (3.08%), Sequoia Capital (2.19%), Eudora Ventures (1.22%), Mirabilis Investment Trust (0.61%), Trifecta Capital (0.14%) and Stride Ventures (0.08%).
The secondary sale is expected to be completed ahead of Hector Beverages' planned IPO in 2027. Sources said the exercise is intended to clean up the company's capitalization table and consolidate shareholding among key large investors. Avendus Capital is advising on the transaction.
According to Tracxn data cited in the report, Lathe Investment Pte, a subsidiary and investment holding company of Singapore's sovereign wealth fund GIC Pte, is the largest shareholder with a 34.97% stake, while founder Neeraj Kakkar holds 8.20%. Other backers include NR Narayana Murthy-backed Catamaran Ventures and Hillhouse Capital.
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