Crompton Greaves Consumer Electricals and Havells India have made offers to buy out kitchen appliance-maker Butterfly Gandhimathi.
A CNBC-TV18 report said that marquee private equity investors had also expressed interest in buying a stake in the company.
Butterfly Gandhimati, which has seen improvement in its financials over the past few quarters, has been on the market to raise close to Rs 500 crore recently to fund its capital expenditure plans.
Shares of Butterfly Gandhimathi have risen 113 percent in the past 12 months driven by strong financials and a rise in demand for kitchen appliances because of work from home triggered by the COVID-19 pandemic.
According to the CNBC-TV18 report, Butterfly Gandhimati is currently evaluating all options and is likely to take a final decision in 15-30 days.
At 10:13 am, shares of Butterfly Gandhimati were up 0.4 percent at Rs 1,310 on the National Stock Exchange (NSE).
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
