Reliance Capital is backing a merger deal between Grover Vineyards Limited and Vallee de Vin Private Limited. Reliance Capital will join Singapore-based wine investor Ravi Viswanathan as a key stakeholder in this combined entity Grover Zampa Wines.
Reliance Capital will acquire 18 per cent stake in Grover Zampa Wines. The fund raised will help Grover Zampa come up with winery operations in Maharashtra and Karnataka. A Reliance Capital spokesperson, however, declined to comment. The Grover family and Ravi Jain, Deepak Roy and Neeraj Deorah, Promoters of Vallee de Vin will together own a little over 50 per cent stake in the company. According to a TOI report by Reeba Zachariah & Boby Kurian, initial investors in Grover Vineyards Citi banker Jerry Rao and champagne house Veuve Clicquot have made an exit.
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Reliance Capital will acquire 18 per cent stake in Grover Zampa Wines. The fund raised will help Grover Zampa come up with winery operations in Maharashtra and Karnataka. A Reliance Capital spokesperson, however, declined to comment. The Grover family and Ravi Jain, Deepak Roy and Neeraj Deorah, Promoters of Vallee de Vin will together own a little over 50 per cent stake in the company. According to a TOI report by Reeba Zachariah & Boby Kurian, initial investors in Grover Vineyards Citi banker Jerry Rao and champagne house Veuve Clicquot have made an exit.
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