Motilal Oswal Private Equity Invests Rs 1,000 million in Ganesh Grains Limited
Kolkata, 25 October 2016: MOPE Investment Advisors Private Limited (MOPE) has announced that its India Business Excellence Fund – II and India Business Excellence Fund – IIA, have invested INR 1,000 million for a minority stake in Ganesh Grains Ltd, a Kolkata based company engaged in the business of manufacturing and selling of branded food staple. This is the first time the Company has raised private equity capital.
Established in 1936, Ganesh Grains Limited is one of the oldest and the largest staple brand in Eastern India with a strong presence in West Bengal. It operates through a very strong supply chain network, with more than 35,000 retailers in these regions. The company also has 8 state of the art manufacturing facilities in West Bengal, Uttar Pradesh & Andhra Pradesh and offers a complete product basket of food staples such as branded Atta, Maida, Sujee, Sattu etc under the brand ‘Ganesh’.
Mr. Vishal Tulsyan, Managing Director and CEO of MOPE commented, “We are pleased to be part of what we believe is one of the fastest growing food staple brands in the country. The brand ‘Ganesh’ has become synonymous with high quality products at affordable prices and remains an endearing brand to its target customers. The food staples industry is undergoing a fundamental transformation. The combined effects of demographic shifts & rise of new consumption centers, will have a profound impact on the shape of demand over the next few decades. MOPE continues to back high-quality, local entrepreneurs to build large businesses based on this investment theme. Through this partnership with Ganesh Grains, we intend to help create a large, differentiated leader in India’s food staple industry”.
Mr. Manish Mimani, Managing Director of Ganesh Grains says, “Partnering with MOPE will help the company achieve its three dimensional goal of becoming the fastest growing food staple business in the country while continuously improving its market share and strengthening the ‘Ganesh’ brand. The MOPE teams’ partnership approach, along with proactive growth focus, will provide the necessary impetus for Ganesh. The funds will be used for expansion of capacity, deepening the distribution network and brand building which will help us serve our customers better and create value for all the stakeholders of the Company.”
Rabo Bank acted as an exclusive financial advisor to Ganesh Grains for this transaction.
About MOPE Investment Advisors Pvt. Ltd
MOPE Investment Advisors Pvt. Ltd. (MOPE) is a subsidiary of Motilal Oswal Financial Services Ltd. (MOFSL), a diversified financial services group with businesses in Securities, Asset Management, Private Equity and Investment Banking. MOPE is currently managing two growth capital funds i.e. India Business Excellence Fund (IBEF) and India Business Excellence Fund II (IBEF II) focused on providing growth capital to mid-market companies, typically in the range of US$ 10-20 million, across sectors. IBEF, launched in 2007 is a INR 550 Crore ($ 125 million) fund and is fully invested in thirteen portfolio companies across sectors such as food processing, bulk packaging, power transformers and power infra enablers, ITES, financial services, EMS, FMCG, auto components, etc. It has already made six exits. On the back of its success of IBEF, MOPE raised IBEF II, an Rs.950 Crore (~USD 160 million) growth capital fund. Currently, investments are being made through IBEF II.
About Ganesh Grains Ltd
Ganesh started its journey of manufacturing Wheat & Gram Flour in the name of "Ganesh Flour Mills". In 1936, Wheat and Gram Flours were introduced in the market in the brand name "Ganesh". Over the years the company has seen revolution in both technology and human skills and welcomed them with open hands. On March 9, 2000 the company registered itself as "Ganesh Wheat Products Pvt. Ltd." under the provision of the company Act, 1956 and has been registered vide registration No. 21 - 91315 with the registrar of companies, West Bengal with its registered office at 88, Burtolla Street, Kolkata – 700007. The company’s name was then changed to Ganesh Grains Limited. Over last 15 years, the company had introduced various new products with high quality in the market to meet the huge market demand. Company products ranged from Wheat Products, Powders of Cereals & Pulses, Ready to cook / Instant items, Snack (Bhujia & Namkeen) and others. Today, Ganesh Grains Limited is among one of the largest manufacturers of flour products in India.
For further details contact:
Rohini Kute
Motilal Oswal Financial Services
Ph - +91-22-39822340
Mob- +91-9820196838Anirudh Rajan / Alpesh Nakrani
Paradigm Shift Public Relations
Ph- +91-22 22813797 / 98
Mob- +91-9892343828 / +91-9869121167