Baring continues to build public market portfolio as stake in Balmer Lawrie crosses 5%

Private equity firm Baring Private Equity Partners India's stake in Balmer Lawrie Investments, which is the holding company of Balmer Lawrie & Co, has crossed 5 per cent. The firm has been building the stake since early 2011 in Balmer Lawrie, which is owned by the Indian government.

This comes as Baring India, which has assets under management of close to $1 billion, has built stakes in nearly a dozen listed companies over the last three years.

Balmer Lawrie Investments last traded at Rs 199.95, giving the Kolkata-based company a market capitalisation of Rs 443.89 crore. The shares of Balmer Lawrie & Co closed at Rs 348, up by 0.4 per cent on Friday, giving the firm a market capitalisation of Rs 991.8 crore.

Balmer Lawrie & Co is present in multiple segments across manufacturing and services and is known as the largest manufacturer of steel barrels in India. It is present in making leather chemicals, tea exports and trading, travel, tours, and cargo and engineering services such as turnkey projects, energy-audit and consultancy and freight-container repairs.

While Balmer Lawrie & Co is headquartered in Kolkata, it has office throughout India and in Bedford in the UK. It has revenues of Rs 2760 crore and profits in excess of Rs 224 crore. 

Baring’s listed investment include textile firm Vardhman Holdings and its subsidiary Vardhman Textiles, power equipment maker TD Power Systems , gold loan financing firms Manappuram Finance and Muthoot

Finance, plastic water tank maker Sintex Industries, pharma companies Shilpa Medicare and Indoco Remedies besides FMCG players Marico and Dabur India.

(Edited by Joby Puthuparampil Johnson)

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