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IIFL Special Opportunities Fund invests Rs251cr in Bikaji Food

Press Trust of India  |  Mumbai 

Alternative investment fund, IIFL Special Opportunities Fund, today said it has acquired a minority stake in for Rs 251 crore.

The investment also marks part exit of existing investors and from Bikaji Foods, the company said in a press release.

"We, at Bikaji, welcome to join us in the exciting journey of tapping into the huge potential offered by the Indian packaged food industry," Bikaji's and founder said.

IIFL Asset Management Company's said, "Organised snacks market is expected to clock a 15 per cent CAGR whereas organised namkeen market is set to witness 19 per cent CAGR in the country. Bikaji, with its strong leadership, well diversified product portfolio, strong brand and growing pan-presence, is strongly positioned to capture this growth."

IIFL was launched in 2017 and has invested in companies including Reliance Nippon AMC, ICICI Lombard, National Stock Exchange and among others. In FY18, Bikaji Food's revenue stood at Rs 800 crore.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 18 2018. 17:20 IST