SUMMARY
- Haldiram Bhujiawala secures ₹235 Cr from Bharat Value Fund to boost growth and shareholder value.
- The company, established in 1992, operates in snacks, FMCG, and consumer goods, focusing on “Prabhuji.”
- With 2000 distributors and 60 franchises, Haldiram Bhujiawala serves Northeast India, recording ₹473 crore revenue in FY23.
Packaged snacks and sweets firm Haldiram Bhujiawala has secured ₹235 crores through a private placement from Pantomath’s Bharat Value Fund (BVF).
In a statement, MD Manish Agarwal stated, “In the last 60+ years, we have cultivated a loyal customer base by offering delectable snacks and sweets. Our company has been a trendsetter, revolutionizing India’s food habits and tastes. Leveraging our industry insights alongside BVF’s support, we are strategically positioned to enhance shareholder value and drive growth. This partnership lays a solid foundation for generating long-term economic benefits, ensuring a prosperous future for all stakeholders.”
Madhu Lunawat, CIO of Bharat Value Fund states, “We are pleased to partner with Haldiram Bhujiawala Limited. With over six decades of market insight since its founding as a proprietorship in 1958, the company deeply understands consumer behavior and market trends. The new generation’s sharp focus on the modern brand, ‘Prabhuji,’ is particularly noteworthy. We are highly optimistic about the food, FMCG, and consumer goods sectors, and Haldiram is well-positioned to achieve substantial growth in the years ahead.”
The 1992-founded food company sells Haldiram’s Prabhuji and Prabhuji Online, an online-only brand. With more than 100 SKUs in its portfolio, it enjoys great recognition in the Eastern and North Eastern regions. In West Bengal and other states in the Northeast, it also has fast-service restaurants.
According to Haldiram Bhujiawala, his distribution network consists of about 2000 distributors who serve more than two lakh merchants across North East India, West Bengal, Bihar, and Jharkhand. In addition, it runs 60 franchise locations and 19 retail stores.
The company recorded revenue of ₹473 crore for FY23, while earnings fell to ₹1.7 crore for the year.
