Dry fruit brand Bolas in talks to raise ₹900 crore from PEs

Dry fruit brand Bolas is in early discussions with private equity investors including Westbridge Capital to raise ₹800-900 crore in its first institutional funding round, two people in the know told Mint.

- Priyamvada C

"The investors are looking to secure a significant minority stake in the company and the round will be a mix of primary and secondary transactions," one of the two people said, seeking anonymity. The promoters are expected to dilute a part of their holdings, but valuation discussion is underway.

According to a second person, the capital will primarily go towards expanding Bolas' retail footprint in Karnataka from 80 to 150-200 outlets.