Photo: Pradeep Gaur/MintMumbai: Shankara Building Materials Ltd is planning an initial public offering (IPO) of around Rs.350 crore to raise funds and allow investor Fairwinds Private Equity to sell a part of its stake, three people aware of the development said. Currently, Fairwinds Asset Managers Ltd manages Reliance Alternative Investments Fund Private Equity Scheme I, a $200-million fund raised in 2009-10. Emails sent on Friday to Venkat, founder and managing partner of Fairwinds, and Sukumar Srinivas, chairman and managing director of Shankara Building Materials, went unanswered. Shankara’s IPO plans come at a time when Fairwinds has been focusing on exiting several of its portfolio firms. “Till a couple of years ago, exits had been a major concern for private equity funds in India.

Source: Mint August 28, 2016 18:56 UTC