Hillhouse Said To Consider India IPO For Home Appliance Maker
An IPO could raise more than $200 million, though the size may change, people in the know said.
(Bloomberg) --
Hillhouse Investment is considering options for the Indian unit of Versuni Group BV, formerly Philips Domestic Appliances, including a possible initial public offering in Mumbai, according to people familiar with the matter.
The Asian investment firm is working with JPMorgan Chase & Co. and Kotak Mahindra Bank Ltd. as potential arrangers for a listing this year or next, the people said, asking not to be identified discussing a private matter.
Talks are at an early stage and no final decisions have been made, the people said. An IPO could raise more than $200 million, though the size may change, the people said. It could value the Indian business at about $800 million, one of the people said.
Representatives for Hillhouse, JPMorgan and Kotak declined to comment.
Hillhouse bought Royal Philips NV’s home appliance business in 2021, and it was later renamed Versuni. The company makes products such as coffee machines and air purifiers.
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