Lighthouse Funds had bought 12.5 per cent stake in snacks maker Bikaji Foods International for ₹90 crore.
MUMBAI: IIFL Special Opportunities Fund has acquired a minority stake in Bikaner-based Bikaji Foods International for ₹251 crore through a mix of primary and secondary investments.
IIFL AMC owns IIFL Special Opportunities Fund. Bikaji Foods, a snacks maker backed by the private equity firm Lighthouse Funds, is planning to go public to raise about ₹700 crore to help fund its expansion plans.
Prashasta Seth, CEO, IIFL AMC, said they are happy to be a part of company’s growth story. “Bikaji, with its strong brand and growing pan-India presence, has the potential to emerge as a leading player in the Indian packaged food industry,” Seth said.
Lighthouse Funds had bought 12.5 per cent stake in snacks maker Bikaji Foods International for ₹90 crore, valuing the unlisted company at roughly ₹720 crore in 2014. — Our Bureau
(As published in economictimes.indiatimes.com on Fri, May 18 2018. )