Tano Capital invests $8.5m for 20% Safari Industries India stake

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africa-tanzania_sqTano Capital has invested $8.5m for a 20 per cent stake in plastic moulded luggage maker Safari Industries India.

The deal has been approved by the Safari board according to AVCJ, which said Tano would buy 830,000 shares for INR600 each.

It added that the transaction would see the promoter’s stake fall from 75 per cent to 62 per cent.

Safari has been making plastic moulded suitcases and briefcases since 1980, and reported a net profit of INR2.4m last year.

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