Pantomath’s Bharat Value Fund invests Rs 235 crore in Haldiram Bhujiawala

Kolkata-based Haldiram Bhujiawala Ltd has announced the successful closure of its private placement round, with Pantomath’s Bharat Value Fund (BVF) investing Rs 235 crore in the company for minority stake. The company will use the funds to expand its manufacturing and markets outside of Eastern and North-Eastern Indian markets.

Having a legacy of more than six decades in snacks and savoury industry, the company retails its products under the brand name of “Prabhuji” offering a broad product portfolio with 100 SKUs, which enjoys brand recognition, especially in Eastern and North-Eastern Indian markets, besides running the quick service restaurants in West Bengal and North-Eastern States.

“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,” Manish Agarwal, Managing Director, Haldiram Bhujiawala Limited, said.

The snacks market, one of the fastest-growing sectors in India, was estimated to be worth Rs 42,600 crore in FY24, which is expected to reach Rs 95,500 crore by FY32, registering a CAGR of 11%. Organised players in this market, who enjoy a substantial market share, are expected to be the key contributors to this growth.