Rare Enterprises and its Partners have signed a term sheet to invest in Syska LED Lights Private Limited, promoted by the Uttamchandani family. In accordance with the terms of the signed term sheet, about 15% of the funds have been deployed already. It is expected that the transaction should conclude in the next 60 days.
Rakesh Jhunjhunwala, Partner – Rare Enterprises, said “We are encouraged with the business and the brand that Syska has built so far – we view this as a long term partnership with the Promoter family to take Syska into its next phase of growth and leadership.”
Commenting on this partnership, Mr. Govind Uttamchandani, Director, Syska Group said, “Syska Group has been on a consistent growth trajectory and we are poised to achieve new business milestones in the coming years. With the blessings of our Guru, we believe this collaboration with Rare Enterprises will support our organization in its next phase of growth, and enable us to secure a leadership position in India’s fast moving electrical goods (FMEG) industry. We are confident that this will be a long and fruitful association.”
Syska Group has witnessed success over the years due to its first mover mindset and constant innovation. It has become one of the leading fast-moving electrical goods companies in the country and is today a household name pan India.
Rare Enterprises and its Partners are investors in Indian equities, both listed and unlisted.
About Syska Group -
Starting with Guru Nanak Marketing, a company that was involved in the distribution of T-series Audio cassettes, CDs and audio video systems for Maharashtra, the SYSKA Group had only one thing to do: grow. As the SYSKA Group continues to grow and become a domestic leader, their eyes are set to the world as their presence grows in countries across the globe. Empowered by a strong vision and drive, the SYSKA Group grew and diversified into more segments such as LED, Personal Care Appliances, Mobile accessories, Home Appliances and only continues to grow and dominate these markets.