Aniket Metals has successfully closed a private placement round, securing ₹55 crore with a minority stake acquired by Bharat Value Fund (BVF), managed by Pantomath Capital Management.
Established in 2012, AMPL is a leading player in cookware, kitchen gadgets, cutlery, and kitchenware, primarily sold in the USA and the UK markets. AMPL manufactures 650+ products across six broad categories in stainless steel and aluminium, catering to all segments in retail, commercial, and Hotel, Restaurant and Café/Catering (HoReCa) sectors.
Aniket Metals is a strategic vendor to Walmart Inc. and currently serves 7 of the top 10 global retailers, including ASDA, TJX, ROSS Inc., and Lidl. In 2020, it acquired the Italian brand ‘MORINOX’ to incorporate Italian automation and design into its product range.
Moreover, the company plans to launch its brand ‘METALUX’ nationally, which will hit the shelves of major retailers during Diwali, followed by launches on e-commerce and quick commerce platforms.
Commenting on the fundraising, Nachiket Shah – Managing Director, AMPL, said, “With the government’s ‘Make in India’ push and the global ‘China Plus One’ strategy, 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.”
Speaking about its investment in AMPL, Madhu Lunawat, CIO of Bharat Value Fund, said, “Aniket has strong potential in the cookware industry. We are well-positioned in the international export market and ready for expansion across India. This investment will support AMPL’s expansion into the domestic market through the introduction of its own brand, ‘Metalux’ – a premium category brand.”
She added, “At Bharat Value Fund, we believe in backing companies that drive long-term value, and AMPL’s focus on quality and innovation aligns with our goals. We are excited to support their growth journey and look forward to their continued success.”
