360 ONE, TR Capital in talks with beverage brand ‘Paper Boat’ for 22% stake at Rs.3,000-Cr valuation

Private Equity firms 360 ONE and TR Capital are in talks to acquire a 20% to 22% stake in Bengaluru-based Hector Beverages, the company that owns the traditional beverage brand Paper Boat . The transaction is being advised by Avendus Capital. The proposed deal is expected to value the company between INR 2,700 Cr and INR 3,000 Cr.Hector Beverages, founded in 2010 by Neeraj Kakkar, produces traditional Indian beverages. The company is currently engaged in secondary stake sale discussions to consolidate its shareholding among major investors ahead of a planned IPO in 2027.Existing investors, including A91 Partners, which holds a 13.43% stake, and Sofina, which holds an 18% stake, are in talks for partial exits. Other early backers, including Footprint Ventures, Sequoia Capital, and various angel investors, are looking to sell their entire stakes in the company. Singapore's sovereign wealth fund GIC, through its subsidiary Lathe Investment Pte, remains the company's largest shareholder with a 34.97% stake.