Aniket Metals Raises Rs 55 Cr from Bharat Value Fund

New Delhi, Oct 17 (PTI) Aniket Metals, a cookware and kitchen appliances manufacturer, on Thursday said it has raised Rs 55 crore by selling a minority stake to Bharat Value Fund (BVF), managed by Pantomath Capital Management.

Aniket Metals, which has a manufacturing unit at Valsad, Gujarat, is one of the leading exporters and manufacturers of cookware and flatware.

Established in 2012, Aniket Metals is a strategic vendor to US retail giant Walmart Inc and currently serves seven of the top 10 global retailers, including ASDA, TJX, ROSS Inc, and Lidl.

"With the government's 'Make in India' push and the global 'China Plus One' strategy, we plan to rapidly expand our manufacturing facility to tap into India's growing manufacturing prowess and ever-increasing consumption," its Managing Director Nachiket Shah said.

"Our aim is to become one of India's largest homegrown consumer brands in the next few years. We are pleased to partner with BVF in our efforts to scale up rapidly and efficiently," he added.

In 2020, it acquired Italian brand 'MORINOX' to incorporate Italian automation and design into its product range.

Now Aniket Metals plans to launch its brand 'METALUX', which will hit the shelves of major retailers during Diwali, followed by launches on e-commerce and quick commerce platforms.

"The company has an aggressive distribution strategy and aims to be available nationally across all channels by Q1 2025," according to a company statement.

BVF is an Alternative Investment Fund (AIF) launched by India Inflection Opportunity Trust (IIOT) in August 2024, with a targeted corpus of Rs 2,000 crore.