After the sale of Tirumala Milk to the European dairy giant Lactalis for Rs1,750 cr (US$282.3 million) by which the global fund Carlyle realized a 250% return on its investment, Motilal Oswal Private Equity Advisors has appointed investment bankers to scout for prospective buyers for its remaining 15% stake in Paraq Milk. Motilal is looking at a valuation of Rs200 cr (US$32.2 million) for its stake. Paraq is one of the largest milk producers in India with control of 2% of the Indian market and a capacity of 1 million liters per day; Paraq also sells whey protein and cheese to food processors. The company has 2,000 distributors, sells through more than 300,000 retail outlets, and exports its products to 27 countries throughout West Asia, South East Asia, and Africa.
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