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Lighthouse exploring fashion jewellery bet
Mint Mumbai
|February 12, 2024
Bengaluru-based Kushal's has 74 brand outlets, primarily in South India
Lighthouse Funds, a mid-market private equity firm known for its investments in Fabindia, Duroflex, and Wow! Momo, is looking to make its maiden investment in the fashion jewellery space, at least two people aware of the development told VCCircle, seeking anonymity.
Lighthouse is in advanced stage of discussions to back Bengaluru-based omnichannel fashion jewellery retailer Kushal's Retail Pvt. Ltd with an investment of around 300 crore ($36 million).
The investment firm may pick up a nearly 20% stake in a deal valuing Kushal's at 1,500 crore, according to one of the individuals.
The deal will include both primary and secondary components, a second person said. India SME Investments is expected to exit after nearly five years of investing in this company, the person added.
This story is from the February 12, 2024 edition of Mint Mumbai.
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