MUMBAI: India's Nuziveedu Seeds Ltd, in which the Blackstone Group holds a 25 percent stake, is set to file for a market listing to raise up to $200 million, five sources with direct knowledge of the matter told Reuters.
Nuziveedu, which could file as early as next week, has hired JPMorgan, JM Financial Services and Axis Capital as lead managers, the sources said. They declined to be named as the information is not yet public.
Blackstone, which invested $54 million in the company in 2008, will make a part-exit with a near four times return on a seven-year-old investment, one of the sources said.
"We are almost done and could file it within a few weeks," said one of the sources. One other source said the filing could be completed within a week.
Blackstone declined to comment, while JPMorgan, JM and Axis were not immediately available to comment. Nuziveedu officials were was also not immediately reachable.
Based out of Hyderabad, Nuziveedu Seeds is India's largest cotton seed company. It develops, produces, and markets hybrid and varietal seed products, according to its website.
Stock market-listed rivals would include Kaveri Seed Co Ltd and Monsanto India, analysts said.
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