PE Fund Investments
Gopal Snacks attracts pre-IPO funding from 360 One Asset, Axis Alternative, White Oak Capital
360 One Asset, Axis Alternative Investment Fund and White Oak Capital Management have jointly picked up a secondary stake in Rajkot, Gujarat-based Gopal Snacks ahead of the company's planned initial public offering in 2024. The firm was originally started in 1991 as Gopal Gruh Udyog and changed its name to Gopal Snacks Pvt Ltd in 2009. It has seven plants across Gujarat, Rajasthan and Maharashtra. It operates in 11 states and supplies products through 750 distributors and over 700,000 retailers. The deal size for this pre-IPO transaction is around INR 100-200 crore and the proceeds will be used to repay debt. In December 2022, founder Bipin Hadvani raised an INR 490 crore loan from JM Financial to buy out his younger brother's stake in the company.
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