After a long wait, the Shapoorji Pallonji Group has closed the sale process of its consumer durables business under the Eureka Forbes label by picking the American private equity fund Advent International's Rs 4,400-crore offer for a 72 per cent stake. The sale process, which began in November 2019, will help the over 156-year-old SP Group pair the debt pile and sharpen the focus on the flagship construction and engineering business under Afcons. The valuation of Rs 4,400 crore for a 72.56 per cent stake is is at an enterprise level and subject to closing adjustments and also includes an open offer for the remaining stake after the demerger and listing of Eureka Forbes, the SP group said in a statement on Sunday.
The company behind brands like Aquaguard focuses on technology to differentiate brand, rethinks communication strategy.
The company said, the water purifier is powered by space nano technology.
As Delhi-NCR chokes on post-Diwali pollution, demand for air purifiers has spiked with manufacturers such as Eureka Forbes, Blueair, Kent RO and Panasonic expecting up to four-fold jump in sales.
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