Eveready may look at PE investment to scale up packet tea biz

Eveready may spin-off its packet tea business into a 100 percent subsidiary as the board has approved the re-organisation. Speaking to CNBC-TV18, Amritanshu Khaitan, MD of Eveready India said it may also look at private equity or strategic investor to scale up the packet tea business.

Khaitan said the company is concentrating on lighting, electrical and appliance business for higher growth.

The Indian packet tea market is worth Rs 10,000 crore dominated by HUL and Tata Tea. It plans to leverage its distribution network to become the third player in the market.Watch video for more ...