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Business

Bain Capital Invests In India’s Himadri

by Michael McCoy
January 11, 2010 | A version of this story appeared in Volume 88, Issue 2

Bain Capital, the Boston-based private equity firm, will invest up to $124 million in Himadri Chemicals & Industries, a Calcutta-based maker of coal tar pitch and related chemicals. Bain will pay $54 million for new shares, giving it a 15% stake in Himadri. It will follow with a $70 million offer for 20% of the expanded equity base. Himadri CEO Anurag Choudhary says the firm will use the funds to expand, move further downstream, and invest abroad.

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