Haldiram Bhujiwala Raises Rs 235 Crore for Expansion

Kolkata, Nov 8 (PTI) Snacks maker Haldiram Bhujiwala on Thursday said it has raised Rs 235 crore from Pantomath's Bharat Value Fund (BVF) in lieu of a minority stake through private placement.

In a statement, the company that retails its products under the brand 'Prabhuji' said it will use the funds to expand its manufacturing and markets outside of eastern and northeastern markets.

At present, the Kolkata-based company primarily operates in West Bengal, Bihar, Jharkhand, and the Northeast states. Its 2,000 distributors service more than 2,00,000 retailers across the country.

Besides, the company operates 19 retail outlets and 60 franchise stores, according to the statement.

Haldiram Bhujiawala also operates three manufacturing units with a combined capacity of 6,035 mtpa.

The company said the snacks market in the country was estimated to be Rs 42,600 crore in 2023-24, and is expected to touch Rs 95,500 crore in 2031-32. PTI dc