Kolkata, Nov 8 (PTI) Snacks maker Haldiram Bhujiwala on Thursday said it has raised Rs 235 crore from Pantomath’s Bharat Value Fund (BVF) in lieu of a minority stake through a private placement.

In a statement, the company which sells its products under the brand ‘Prabhuji’ said it would use the funds to expand its production and markets outside the eastern and north-eastern markets.

At present, the Kolkata-based company primarily operates in West Bengal, Bihar, Jharkhand and the North Eastern states. Its 2,000 distributors serve over 2,00,000 retailers across the country.

Additionally, the company operates 19 retail outlets and 60 franchise stores, according to the release.

Haldiram Bhujiawala also operates three manufacturing units with a combined capacity of 6,035 mtpa.

The company said the snacks market in the country is estimated at Rs 42,600 crore in 2023-24 and is expected to reach Rs 95,500 crore in 2031-32. PTI cc