Shankar Sharma invests in Annapurna Swadisht

23 Aug 2022 , 08:44 AM

The packaged snacks, food, and beverage company based in Kolkata announced that Shankar Sharma has invested in the IPO-bound Annapurna Swadisht.

On July 26, the company submitted the draught documents for its proposed IPO on NSE Emerge.

According to a press statement from Annapurna Swadisht, Shankar Sharma has joined the team on a personal basis. Sharma and a small group of investors collectively purchased a 7.85% share in the business.

“Amit Bhartia, a former partner of GMO Singapore Pte, also made investments on a personal level. Bhartia manages fundamental research and is a portfolio manager for GMO’s Emerging Markets Equity team “The statement stated.

The pre-IPO holdings in the company were also purchased by NAV Capital Emerging Star Fund and Rajasthan Global Securities, two of the biggest investors in the SME market.

The lead manager for the issue, Corporate Capital Ventures, is overseeing the pre-IPO and IPO processes on behalf of the company. The issue’s Registrar has been designated as Skyline Financial Service Private.

In West Bengal, the business has two production facilities. It sells its packed sweet and savoury snacks across Bihar, Jharkhand, West Bengal, Odisha, and Assam for a range of Rs1 to Rs5. There are now over 400 distributors.