AHMEDABAD: Siddhi Vinayak Logistic, a Suratbased corporate logistic service provider, plans to raise more than $100 million by selling a minority stake to a global private equity firm.
Large PE firms such as Goldman Sachs, Blackstone, KKR, JPMorgan, Macquarie, Fairbridge Capital, Gulf Co Funds and Sovereign funds of Singapore and Malaysian governments are in the fray to invest in Siddhi Vinayak Logistic Ltd (SVLL), two people familiar with the development said.
SVLL has mandated merchant bankers The Financials Supermarket to find investors. Both the company and the merchant bankers did not respond to an email query sent last Wednesday.
A person familiar with the company’s plans said SVLL plans to raise $100-160 million (approx Rs 621-993 crore) by selling a singledigit minority stake. This could be the country’s biggest PE deal of this quarter. A second person in the private equity circle said Goldman Sachs, Blackstone and KKR are the favourites to close a deal, even as sovereign funds of Singapore and Malaysian governments entered the fray in the last moment.