ASK Pravi takes minority stake in Indian kidswear brand

The round of funding is intended to support the Chandigarh-based business as it expands its manufacturing capacity and retail footprint. The investment is estimated to give ASK Pravi a significant minority stake of anywhere between 26% and 49%.

Indian Clothing League operates under two mains brands - 612 Ivy League and Baby League - distributing to large format stores such as Shoppers Stop and Reliance Retail, and e-commerce sites Flipkart and Jabong.

"There is a huge gap in the Indian kidswear market for high quality yet affordable products. The company seeks to fill this gap by providing contemporary styled products at affordable prices for today's children," said Manu Indrayan, managing director of Indian Clothing League, in a statement.

This is ASK Pravi's second investment via its ASK Pravi PE Opportunities Fund, which launched in late 2011 after financial services firm ASK Group teamed up with Pravi Capital Advisors to form ASK Pravi Capital Advisors. The vehicle - which is targeting INR9 billion - reached a INR2 billion first close in January last year, with commitments from a number of domestic family offices.

The fund aims to take minority positions in sectors benefiting from consumer growth which an average ticket size of $10-15 million. Its maiden investment came in August last year, when it committed INR600 million to Omni Hospitals.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Consumer
• South Asia
• Investments
• Consumer
• India
• Pravi Capital
• Growth capital