Elephant Capital invests in Amar Chitra Katha

Elephant Capital, a private equity venture of Dabur group's Gaurav Burman, has acquired a significant minority stake in Amar Chitra Katha Pvt. Ltd (ACK) ' India's leading children's book company -- for £3.2 million. The investment will be made through Elephant Capital's Mauritian subsidiary, Tusk Investments Fund 1.

Elephant Capital's co-investment vehicle, will also be investing £0.5 million, and Gaurav Burman, Managing Partner of Elephant Capital LLP will be making an additional, personal co-investment of £0.3 million. With this, Elephant Capital will appoint two directors to the board of ACK, Gaurav Burman and Amit Jain, representing one third of the board seats.

Commenting on the transaction, Gaurav Burman, Managing Partner of Elephant Capital LLP said, "We are extremely excited to be investing in ACK. I enjoyed the products as a child, and understand the potential of the intellectual property, as well as the rich history within the company. We are delighted to be partnering with Mr. Shripal Morakhia, who has an impressive track record of building businesses. We believe there is a huge amount of value in ACK and look forward to working with the team to fully realise the potential the business holds. I believe this will be a very successful investment for Elephant Capital and is exactly the type of transaction that we set up the fund to do."