PE Fund Investments
Alpha Wave acquires 12.5% in seeds-tech player Advanta Enterprises for $350-M
Private equity firm Alpha Wave Global has invested USD 350 million in the hybrid seeds subsidiary of UPL Ltd, Advanta Enterprises Ltd . This includes a USD 250 million (INR 2,100 crore) secondary stake sale and a USD 100 million primary equity infusion.JM Financial Limited served as the sole and exclusive financial advisor to UPL and Advanta for this transaction.Alpha Wave will acquire a 12.44 % stake in Advanta, comprising 8.93 % purchased from UPL and 3.51 % from newly issued equity shares. After the transaction, UPL will retain majority ownership with a 74.7 % stake, while KKR and Alpha Wave will hold 12.86 % and 12.44 % respectively. The deal values Advanta at USD 2.7 Billion pre-money and approximately USD 2.85 Billion post-money.UPL plans to allocate USD 250 million from the secondary stake sale toward debt reduction. Advanta will use the USD 100 million primary equity infusion to drive growth through organic expansion as well as strategic acquisitions.This investment follows a USD 300 million investment in Advanta by KKR in October 2022.Operating in over 80 countries, Advanta had generated INR 4,148 crore in revenue in FY24, accounting for 9.62 % of UPL’s consolidated revenue.
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