Anil Ambani-promoted private equity fund Reliance Alternative Investments Fund- Private Equity Scheme-I has picked up 13.7% in Chennai-based home appliances major Butterfly Gandhimathi Appliances (BGAL) for R100 crore.
BGAL approved the allotment of 24.51 lakh equity shares of R10 each, on a preferential allotment basis, to Reliance Alternative Investments Fund- Private Equity Scheme-I, through its trustee Reliance Alternative Investments Services. The board approved the issue of equity shares at a premium of R398 aggregating to an issue price of R408 per equity share for a total price of R100 crore.