Haldiram Bhujiawala Raises ₹235 Crore from BVF

Haldiram Bhujiawala, a Kolkata-based snack company, has secured ₹235 crore from Pantomath’s Bharat Value Fund (BVF) for a minority stake, aimed at expanding its manufacturing and market presence outside Eastern and North-Eastern India. Operating under the brand 'Prabhuji', Haldiram boasts a portfolio of over 100 SKUs and has established a strong distribution network with around 2,000 distributors servicing over 200,000 retailers. The company, which has been in operation for over six decades, currently runs three manufacturing units with a capacity of 6,035 metric tonnes per annum and operates 19 retail outlets alongside 60 franchise stores. Despite a revenue of ₹473 crore in FY23, profits declined to ₹1.7 crore, highlighting challenges in the competitive snack market. BVF's investment marks its sixth overall in Haldiram and reflects its focus on profitable growth-stage companies. Managing Director Manish Agarwal emphasized the partnership as a foundation for long-term economic benefits and growth.