Lahori Zeera parent Archian Foods is set to raise Rs 200 Cr from Motilal Oswal

Homegrown beverage brand Lahori is set to raise Rs 200 crore from Motilal Oswal as a part of a larger round.

The company's board has passed a resolution to issue 4,997 Series B preference shares with a face value of Rs 100 at an issue price of Rs 4,00,252 each to raise Rs 200 crore or $23 million, the documents from the Registrar of Companies (RoC) showed.

Post allotment, Motilal Oswal would hold 7.14% stake in the company, while existing investor Verlinvest’s stake would be diluted from 21.17% to 19.64%.

"The current offer is made in view of the expansion and growth of the business of the Company," stated the filing.

Archian Foods, the company that sells Lahori Zeera, Lahori Nimboo, Lahori Shikanji and other beverages, is in the middle of raising a larger round in the size of Rs 400 - Rs 450 crore, according to a report by Moneycontrol.

Founded in 2017 by three cousins—Saurabh Munjal, Saurabh Bhutna, and Nikhil Doda—the company last raised $15 million from Belgium-based consumer-focused investor Verlinvest in 2022 to develop and launch new category-creating products.

The company has been on a strong growth trajectory, nearly tripling its profit in FY24 from FY23, a report by Entrackr showed. The company clocked 47.2% growth in operating revenue to Rs 312 crore in FY24 from Rs 212 crore in FY23. During the same period, its profit grew from Rs 7.6 crore to Rs 22.5 crore on the back of strong demand.