Passport Capital, the US-based investment firm that holds a stake in Koutons Retail, has raised its share from 4.8 per cent to 7.7 per cent.
“We initially invested in Koutons when it was an unlisted company. We are impressed with the brand-building capabilities and speedy execution of the entrepreneurial management of Koutons. We are very optimistic about the growth prospects of the company and have, therefore, increased our stake,” said Dipak Patel, portfolio manager, Passport Capital.
DPS Kohli, chairman, Koutons Retail India, said, “Increasing stake in the company by Passport Capital reinforces faith in our business strategy and future growth. This also shows that there is huge potential for growth left in the Indian organised retail sector.”
Passport Capital is a registered foreign institutional investor (FII) and has been investing in Koutons since 2003.