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Avendus Future acquires stake in Bikaji Foods for Rs 40 crore

Future Leaders Fund plans to raise Rs 500 crore from individual and institutional investors

Press Trust of India  |  Mumbai 

Stake sale
Representative image

Private equity fund Future Leaders Fund Monday said it has bought a stake in domestic snacks firm Bikaji Foods International for Rs 40 crore.

is focused on investing in late-stage private in the consumer and financial services segments, through a secondary transaction. It purchased a part of the stake held by two existing investors - and Intensive Softshare, the release said.

Future Leaders Fund Managing Partner and Head Ritesh Chandra said the stake has been acquired for Rs 40 crore.

"Bikaji has established itself as a leading company in the Indian ethnic snacks segment with a sizable market share, profitability and a platform geared for growth. With pan-India presence and favourable macro tailwinds, the company is expected to grow rapidly in the coming years," Chandra said.

Future Leaders Fund plans to raise Rs 500 crore from individual and institutional investors. The fund, in its life cycle, is targeting to invest in eight to 10 with an average investment size of Rs 40-75 crore.

First Published: Mon, May 27 2019. 17:20 IST
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