Bharat Value Fund Acquires Minority Stake in Aniket Metals, Supporting Domestic Market Expansion To enhance its market presence, AMPL plans to launch its own brand, 'METALUX,' nationally, targeting major retailers during the Diwali season.
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Aniket Metals Private Limited (AMPL) has successfully closed a private placement round, securing INR 55 crore with a minority stake acquired by Bharat Value Fund (BVF), managed by Pantomath Capital Management.
This strategic investment aligns with AMPL's ambitious plans to leverage the Indian government's 'Make in India' initiative and the global 'China Plus One' strategy.
Nachiket Shah, Managing Director of AMPL, said, "We plan to rapidly expand our manufacturing facility to tap into India's growing manufacturing prowess and ever-increasing consumption. Our aim is to become one of India's largest homegrown consumer brands in the next few years. We are pleased to partner with BVF in our efforts to scale up rapidly and efficiently."
Founded in 2012, AMPL has emerged as a key player in the cookware and kitchenware industry, with a product portfolio exceeding 650 items across six categories. The company primarily serves markets in the USA and the UK, catering to retail, commercial, and HoReCa (Hotel, Restaurant, and Café) sectors. Notably, AMPL is a strategic vendor to Walmart Inc and serves seven of the top ten global retailers, including ASDA, TJX, and ROSS Inc.
To enhance its market presence, AMPL plans to launch its own brand, 'METALUX,' nationally, targeting major retailers during the Diwali season.
Madhu Lunawat, Chief Investment Officer of BVF, highlighted the brand's potential in the cookware industry, stating, "This investment will support AMPL's expansion into the domestic market through the introduction of its premium brand."
