Vatika Hotels, hospitality arm of the Gurgaon-based realty developer Vatika Group, is in talks with private equity firms to raise about Rs 750 crore to support expansion of its verticals including hospitality, facilities management and business centres, said three persons with direct knowledge of the development.

“The deal is gaining momentum as 4-5 private equity players have shown interest in picking up the stake. This capital would be used for next stage of expansion across verticals, including the Westin hotels, facilities management Enviro and Vatika Business Centres,” said one of the persons mentioned above.
Vatika Group had raised private equity capital worth Rs 300 crore from Goldman Sachs in 2015. This investment was made in Vatika Hotels and the company regained 100% equity through an exit provided to Goldman Sachs in 2017.

In 2007, the Vatika Group had raised Rs 800 crore in the form of equity at the holding company level. Goldman Sachs, the largest investor in that round along with Baer Capital Partners, had invested Rs 600 crore in the group. Wachovia Bank, which is now Wells Fargo, had put in ?200 crore. All these investors have already made their complete exits from the company.
Singapore,s sovereign fund GIC had invested in the Vatika Group projects in 2014 and still remains invested.

ET,s email query to Vatika Group remained unanswered till the time of going to press, while transaction advisor JLL India declined to comment for the story.

here is company details.

 

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