Bain, TPG Invest $86 Million into Indian Apparel Maker

MUMBAI (Reuters) – U.S. private equity firms Bain Capital and TPG aims to invest a combined $86 million in unlisted Indian apparel maker Lilliput Kidswear, the Indian firm said on Tuesday.

Bain Capital will invest $60 million, while TPG Growth, an investment arm of TPG, will put in $26 million for an undisclosed “significant minority stake”, Lilliput said in a statement.

Ernst & Young is the sole arranger for the transaction.

New Delhi-based Lilliput has been manufacturing and exporting children’s wear to the top kids wear brands across the UK and the United States since 1991, the company said. (Reporting by Indulal P.M.; Editing by Ranjit Gangadharan)