Wildcraft Inc., a Bangalore-based adventure equipment and outdoor gear company, announced that it is currently in talks with private equity funds to raise capital for its expansion programs. The company said that was looking to gain between INR60 and INR75 crore by offering a minority stake, sources familiar close to the discussion said.
"The company has spoken to a few PE investors and deal terms are being discussed," said one of the source who also functions as an investment banker. Spark Capital Advisors Pvt. Ltd., a Chennai-based investment bank, is leading the discussions for the deal.
Wildcraft is one of India's largest outdoor gear retail companies. The company started its operations in 1992 from a garage in Bangalore. Today, the firm offers jackets, shoes, rucksacks, sleeping bags, convertibles, tents and other hiking accessories.
According to its website, Wildcraft's merchandise are available throughout India with at least 70 stores locations in at least 30 cities. It also has a team of resident research and development.
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