The Rajasthan-based snack maker will use the funds to expand its manufacturing and distribution to markets outside North India and to enter the fastest growing ready-to-eat food market. Economic Times had first reported the proposed investment on March 19.
Bikaji Foods makes snacks like bhujia, papad
This transaction, which values it at Rs 720 crore, represents the first round of private equity investment in the privately held company. Earlier media reports citing sources had said Lighthouse Funds may pick 25 per cent in Bikaji Foods for Rs 120 crore.