Liquidity Events
Hatsun Agro acquires dairy products brand Milk Mantra
Publicly-listed, Chennai-based dairy product manufacturer Hatsun Agro Product Limited (HAP) is to acquire 100% stake in Bhubaneswar-based dairy products brand Milk Mantra at a valuation of INR 233 crore (around USD 27.5 million). Post acquisition, Milk Mantra will become a wholly-owned subsidiary of HAP.Founded in 2009, Milk Mantra is a dairy product company that ethically sources and delivers pure milk and dairy products. It offers a range of products including milk, curd, cottage cheese, buttermilk, and cattle feed, among others.
Between 2011 and 2020, Milk Mantra had raised about USD 37 M from Eight Roads Ventures, SBICAP Ventures, DFC, and Aavishkaar.For FY24, Milk Mantra had reported about INR 276 Cr in Operating Income and about INR 9 Cr in PAT.
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