ShreeramBagla, co-founder and chairman of Annapurna Swadisht, said that it is raising funds. “We shall raise Rs 28 crore. Now, the company is fully owned by us. We shall dilute around 26-27% stake in the company through this (IPO),” he added. According to him, the company has a turnover of Rs 62 crore. “Our focus is rural market. The total value of the snacks market in rural Bengal could be Rs 2,400-2,500 crore. Our focus is Tier IV and V category towns and not the big cities and towns,” he added.
The company has two factories in the state and is planning to set up two more in Gurap and Dhulagarh. tnn