MUMBAI: IIFL Special Opportunities Fund has acquired a minority stake in Bikaner-based Bikaji Foods International for Rs 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 Rs 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 Rs 90 crore, valuing the unlisted company at roughly Rs 720 crore in 2014. — Our Bureau
(As published in economictimes.indiatimes.com on Fri, May 18 2018. )