Skip to main content

Deal Alert: StanChart PE invests Rs.110-Cr in Basmati Rice firm Bush Foods

From the Press Release:

Standard Chartered Private Equity (“SCPE”) has invested Rs 1,100 Million (approximately US $ 25 Million) in Bush Foods Overseas Private Limited (“BFL”), one of India’s leading Basmati rice companies. The funding will part finance the expansion of Bush Foods’s state of art fully automated manufacturing and processing facilities in Sonepat, Haryana and also support the company’s long term working capital requirements.

BFL is focused on processing and sale of premium quality Basmati rice. With an emphasis on quality, it has achieved a strong and growing presence in both the export and domestic markets with well established premium brands like, Neesa, Indian Star and Himalayan Crown. The Company’s products are sold in 35 countries across North America, Europe, Middle East, Africa and Asia including through premier global retail chains such as Westmill Foods, Loblaws, Walmart, Costco, Supersol, Riso Galo s.p.a, Migros Super Markets and Indian retail chains like Reliance Retail, Food Bazaar, Bharti Walmart etc. BFL is the first rice company in India to be accredited with Social Accountability (SA) 8000 and holds several other accreditations. It has recently also launched a presence in the Ready-to-Eat Gourmet Indian food segment with a range of Indian recipe products all of which are marketed under the flagship Neesa brand.

Speaking on the investment, Rahul Raisurana, Managing Director, Standard Chartered Private Equity, said, "The strong demand for basmati rice in both the export and domestic markets presents significant growth opportunities for Indian basmati rice companies. We are delighted to partner with Bush Foods, a leading player in the Basmati rice segment with a premier customer base, robust supply chain, quality products and brands, strengths that are also well recognized by its global customer base.”

Virkaran Awasty, Chairman and Managing Director, Bush Foods, said, “Bush Foods is at an inflection point as it builds on the solid platform and global customer base built over the years to emerge as one of India’s most trusted and reputed basmati rice companies that is well recognized for consistency in quality and shipments. We are delighted to have a global investor like SCPE partner with us at this stage to help propel our growth further”.

About Standard Chartered – leading the way in Asia, Africa and the Middle East

Standard Chartered PLC, listed on London, Hong Kong and Indian stock exchanges, ranks among the top 25 companies in the FTSE-100 by market capitalization. The London-headquartered Group has operated for over 150 years in some of the world's most dynamic markets, leading the way in Asia, Africa and the Middle East. Its income and profits have more than doubled over the last five years primarily as a result of organic growth.

For more information on Standard Chartered, please visit www.standardchartered.com

About Bush Foods Overseas Pvt. Ltd.


Bush Foods Ltd was founded in 1992 and has since emerged as one of India’s leading basmati rice companies. The Company has a state-of-the-art fully automated integrated rice mill at Sonepat, Haryana and has several global accreditations to its credit including Social Accountability (SA) 8000, ISO-9001/2000, ISO 22000/2005, BRC Global Standard Food Issue – 5, National program for Organic Products (EU), British Retail Consortium (BRC) and Organic etc. For more information, visit www.bushfoodsbasmati.com.

Popular posts from this blog

PE-VC investments in Q2'23 decline 33% to $9.9 Billion

Private Equity-Venture Capital (PE-VC) investments in India during the quarter ended June 2023 (Q2'23), at $9.85 Billion across 182 deals, registered a 33% decrease compared to the same period in 2022 (which saw $14.6 Billion being invested across 371 deals). The investment amount however rose 74% compared to the immediate previous quarter (which saw $5.7 Billion being invested across 181 deals), shows data from  Venture Intelligence , a research service focused on private company financials, transactions, and their valuations. The PE-VC investment figures for the first 6 months of 2023 - at $15.5 Billion (across 363 deals) - was 50% lower compared to the same period in 2022 (which saw $31 Billion being invested across 800 deals). Q2’23 witnessed 19 mega deals ($100 M+

Chiratae, Speciale and Stride Ventures win APEX'24 Venture Capital Awards

Chiratae Ventures, Speciale Invest and Stride Ventures were awarded as among the leading Venture Capital investors in India for 2023 as part of Venture Intelligence APEX‘24 Private Equity & Venture Capital awards event in Mumbai.  The Venture Intelligence “Awards for Private Equity Excellence” (APEX) is dedicated to celebrating the best that the Indian Private Equity & Venture Capital industry has to offer. The APEX Awardees are selected based on both Self Nomination by the participating PE-VC firms and "crowd sourced" voting from the Limited Partner, PE-VC and advisory communities. (The main criteria are Return Track Record, New Fund Raises & Follow-on Funding Rounds for Portfolio Companies) VC Investor of the Year Chiratae Ventures received the Venture Capital Investor of the Year 2023 Award on the back of 10 part exits totaling $178 million via Secondary Sales during the year. Its exits included those from retail unicorn Lenskart, SaaS Startup Pixis and baby pr

Blackstone, MO Alts and InvAscent win APEX'24 Private Equity Awards

Press Release Blackstone, MO Alternates (formerly Motilal Oswal PE) and InvAscent were awarded as among the leading Private Equity and Growth Capital investors in India for 2023 as part of Venture Intelligence APEX‘24 Private Equity & Venture Capital awards event in Mumbai.  The Venture Intelligence “Awards for Private Equity Excellence” (APEX) is dedicated to celebrating the best that the Indian Private Equity & Venture Capital industry has to offer. The APEX Awardees are selected based on both Self Nomination by the participating PE-VC firms and "crowd sourced" voting from the Limited Partner, PE-VC and advisory communities. (The main criteria are Return Track Record, New Fund Raises & Follow-on Funding Rounds for Portfolio Companies) PE Investor of the Year Blackstone received the Private Equity Investor of the Year 2023 Award on the back of strong complete exits during the year: from Sona Comstar and IBS Software. Ganesh Mani and Amit Dalmia, Senior Managing D

Avendus tops League Table for Transaction Advisors to PE deals in Q1'23

Aeka Advisors and Ambit claim the No.2 & 3 slot Avendus topped the Venture Intelligence League Table for Transaction Advisor to Private Equity Transactions for Q1 2023 advising 5 deals worth $808 million. Aeka Advisors stood second having advised 3 deals worth $228 million. Ambit followed with 4 deals worth $160 million. Ernst & Young ($114 million across 4 deals) and o3 Capital ($80 million across 2 deals) completed the top five for Q1 2023. Avendus acted as advisor to ADIA’s $500 million investment in omnichannel eyewear retailer Lenskart . Aeka Advisors acted as advisor to Kreditbee’s $160 million fundraise from Advent International, Mitsubishi UFJ Financial Group (MUFG) and existing investors. Ambit advised the $104 million fundraise of Freshtohome from Mount Judi Ventures, Iron Pillar, Amazon and others. The  Venture Intelligence League Tables , the first such initiative exclusively tracking transactions involving India-based companies, are based on the value of PE

PE-VC investments fall 38% in 2023 to below $30 B

The value of investments by Private Equity - Venture Capital (PE-VC) firms in India fell by 38% to less than $30 Billion in 2023. PE-VC firms invested $29.7 Billion (across 756 deals) in Indian companies in 2023, compared to $47.6 Billion (across 1,362 deals) in the previous year, reports Venture Intelligenc e, a research service focused on private company financials, transactions, and their valuations. (Note: These figures exclude PE investments in Real Estate).                                                                                                                                                                      2023 witnessed 67 mega deals ($100 M+ rounds) worth $21.2 Billion, compared to 112 such investments worth $31.8 Billion in 2022. The $2.4 Billion investment in Manipal Hospitals by Temasek (which gained majority control) and TPG Capital was the largest PE-VC investment in 2023. This was followed by the $1.35 Billion buyout of education loans focused HDFC Credila