Peepul Capital invests Rs 200 crore in Maiyas Beverages to expand their RTE products

Founder of MTR foods P Sadanand Maiya has raised Rs 200 crore from Peepul Capital to expand the ready to eat category in the country.

“However, Peepul Capital will invest into the expansion and growth of the brand whereas its existing investor Ascent Capital will support Miayas to build varied product portfolio catering to the urban customers,” shared Sudarshan Maiya, Executive Director, Maiyas Beverages & Food.

Today, the group is focusing on packaged food division, and is targeting revenue of Rs 150 crore by the end of 2016.

“We are also running six restaurants in Bengaluru, and are targeting revenue of Rs 40-45 crore from the restaurant segment.

Talking to Restaurant India earlier, Maiya said, “MTR is our biggest competitor today. And, if you look at individual categories, Namkeen category Haldiram is the biggest player in this space. But, South India has no big organised player, so we are very lucky to cater to the region.”