MUMBAI: Promoters of Laila Nutraceuticals, an export-oriented business unit of the Andhra-based Laila Group, is in talks with global PE funds to raise around $40 million, two people with direct knowledge of the development said. The company that’s being valued at around $150 million, will look to sell up to 40 per cent stake. “The company is in talks with global PE funds to raise money. Currently, the due diligence is on,” said a person involved in the deal. Kiran Bhupatiraju, chief executive officer of Laila Nutraceuticals, did not respond to emailed queries and calls on his mobile.
Laila Nutraceuticals is part of the Laila Group with business interests across sectors such as pharmaceuticals, nutraceuticals, ayurvedic products, sugar, paper, finance, hospitality, real estate and education. It manufactures and exports herbal extracts that are key ingredients for the dietary and nutritional supplements. The firm is largely dependent on three key herbal extracts -boswellia, garcinia and gymnema – deriving over 95 per cent of its revenues from these products.