Singapore-based private equity player Temasek is investing Rs. 685 crore ($139 million) for a 4.9 percent stake in consumer products firm, Godrej Consumer Products. 

Temasek will make the investment through its wholly owned subsidiary Baytree, which will subscribe over 1.67 crore shares at Rs. 410 a share on a preferential allotment basis, subject to the signing of a share subscription agreement and shareholders approval.

Amarchand & Mangaldas advised Godrej Consumer Products with a team led by Partners Nivedita Rao and Yash Ashar.

J. Sagar Associates advised Temasek with a team led by Partners Somasekhar Sundaresan and Manisha Kumar.

According to VCCircle, the deal would help Godrej Consumer finance its aggressive inorganic strategy, wherein it has acquired seven companies across the world since 2010 and consolidated its holding in two joint ventures.

Godrej Consumer had in July 2010 raised Rs. 530 crore through a qualified institutional placement, which was done at Rs. 345 per share. Kotak Private Equity had picked up a stake in that QIP for Rs 54 crore.

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