Gaurav Burman buys into Amar Chitra Katha

Elephant Capital, a private equity venture of the Dabur group's Gaurav Burman, has acquired a significant minority stake in a leading children's book company Amar Chitra Katha for £3.2 million (about Rs 21 crore). HT reports.

Elephant Capital, a private equity venture of the Dabur group's Gaurav Burman, has acquired a significant minority stake in a leading children's book company Amar Chitra Katha (ACK) for £3.2 million (about Rs 21 crore).

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The investment would be made through Elephant Capital's Mauritian subsidiary, Tusk Investments Fund 1.

Elephant Capital's co-investment vehicle will also be investing half-a-million pounds (Rs 3.3 crore), and Gaurav Burman, Managing Partner of Elephant Capital, would be making an additional, personal investment of £300,000 (about Rs 2 crore).

Sources, who did not wish to be identified, said Elephant Capital's stake in ACK would be around 30 per cent.

Officials of Amar Chitra Katha refused to comment on the issue.

"There is a huge amount of value in ACK I believe this will be a very successful investment for Elephant Capital," said Gaurav Burman, Managing Partner of Elephant Capital.