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UTI Ventures, IL&FS and SIDBI Ventures are in fray to invest up to Rs 40 crore in Bangalore-based organic food retailer Namdhari’s Fresh. Meanwhile, the investment is expected to be ploughed into rolling out the retailer’s national network, a business daily reported.Namdhari’s Fresh has a retail footprint of 20 outlets in Bangalore and two in Delhi. The company had recently announced plans of southern expansion into Chennai and Hyderabad. Besides, Namdhari’s Fresh is also engaged in wholesale distribution of vegetables and fruits to hotels and other retail chains.
Sources quoted in the report said Namdhari’s Fresh was in the market to attract investments by combining its retail operations with the supply chain centred around a 200-acre farm in Bidadi near Bangalore.
On a standalone basis, the company would have been unable to raise the desired private equity owing to the relatively low valuation of Namdhari’s Fresh, the sources added.
The Rs 100 crore Namdhari Seeds is a major player in the domestic vegetable seed industry market and also exports to Europe, Japan, the US, West Asia and South-east Asia. In 2000, Namdhari Seeds ventured into organic retail with its Namdhari’s Fresh brand in Bangalore.
Source| insidefranchising.net
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