Temasek, others eye stake in Nash Industries

Nash's first institutional fundraising will see it sell around a 25-30% stake

- Sneha Shah, Priyamvada C & Mansi Verma

The Bengaluru-based firm manufactures auto parts.

Singapore's state investor Temasek is eyeing a minority stake in Bengaluru-based auto components maker Nash Industries, which is looking to raise $120-150 million from private equity (PE) investors, three people close to the development said.

The company's first institutional fundraising will see it sell around a 25-30% stake, the people said.

"Temasek (Holdings Pte Ltd) is also in talks and is likely to put in a bid," the first person said. Carlyle Group and ChrysCapital, among others, are also in the fray, the person said.

Moneycontrol reported on 10 September that Nash was in talks with the two PE firms to raise up to $200 million.

"Auto components and precision engineering are high-growth segments and Temasek is betting big on them," the first person added.

Investment bank Avendus is helping the company with the fundraising. "There are other PE players too in the race," the second person said.