Alok Industries Limited, India’s leading integrated premier textile player, has signed a Rs 45 crore private-equity deal with Asiabridge Fund 1 LLC for its wholly-owned subsidiary, Alok H&A ltd. Asiabridge Fund, over a period of three years, would have a 33% equity stake in Alok H&A ltd.
Alok H&A Ltd. engaged in the ‘Cash & Carry’ business model for apparels and home textiles in India, operates through Master Dealers, who deliver the merchandise to dealers which supply to their 150 stores pan-India.
Commenting on the development, Mr Varun Jiwrajka, Head-Operations, Alok H&A Ltd, stated, “The expertise which Asiabridge brings on board will give the required momentum to plan our next level of growth. They have already started introducing us to brand promotion agencies, branding experts, business model analysis etc. We are confident that together we can create a robust, strategic and sustainable business model which will make significant contributions to the development of the small scale dealers across the country."
Asiabridge currently has investments across Asia and endeavors to provide growth capital for companies with good quality management teams in Asia across multiple sectors and to invest for the long term aligning interests with other shareholders and the management team of the investee companies.