Reliance Equity Advisors, the private equity arm of Anil Ambani’s Reliance Capital has acquired 13.71 percent stake in Chennai-based kitchen appliances maker Butterfly Gandhimathi Appliances for Rs. 100 crore ($18 million)..Khaitan & Co advised Reliance Equity Advisors with a team led by Partner Haigreve Khaitan..The Chennai office of Fox Mandal advised Butterfly Gandhimathi with a team led by Partner Jeevanandham Rajagopal along with Senior Associate Madhri Guruswamy..Gandhimathi Appliances is the flagship entity of the Butterfly group and manufactures traditional kitchen appliances, such as LPG stove, mixer-grinders, and table-top wet grinders..The company was incorporated in 1986 as Gandhimathi Appliances and was listed on the BSE and the MSE in 1994..The Company recently secured orders worth Rs. 285 crore for the financial year 2011-2012 for supply of appliances to the Tamil Nadu Government.
Reliance Equity Advisors, the private equity arm of Anil Ambani’s Reliance Capital has acquired 13.71 percent stake in Chennai-based kitchen appliances maker Butterfly Gandhimathi Appliances for Rs. 100 crore ($18 million)..Khaitan & Co advised Reliance Equity Advisors with a team led by Partner Haigreve Khaitan..The Chennai office of Fox Mandal advised Butterfly Gandhimathi with a team led by Partner Jeevanandham Rajagopal along with Senior Associate Madhri Guruswamy..Gandhimathi Appliances is the flagship entity of the Butterfly group and manufactures traditional kitchen appliances, such as LPG stove, mixer-grinders, and table-top wet grinders..The company was incorporated in 1986 as Gandhimathi Appliances and was listed on the BSE and the MSE in 1994..The Company recently secured orders worth Rs. 285 crore for the financial year 2011-2012 for supply of appliances to the Tamil Nadu Government.