by Suman Gupta
September, 2024: Marquee investor Russell Mehta, the owner of Rosy Blue India and Akash Ambani’s father-in-law, has picked up a minority stake in Xolopak India’s pre-IPO funding. Other ace investors include Bollywood stars Aamir Khan and Ranbir Kapoor, producer & director Karan Johar.
Pune-headquartered Xolopak India Limited is a leading player in sustainable disposable packaging products and India’s first manufacturer of organic disposable cutlery, ice cream sticks and spoon products.
Other investors, including Devanathan Govindarajan of Riverstone Capital, Ravi Nathan Iyer, Jyoti Ketan Vakharia, Jayaraman Vishwanathan, Minerva Ventures Fund, Nexta Enterprises LLP, NVS Corporate Consultancy Services, Opus Software Solutions, Sarod Reality, Feroz Farms and Holdings, Viney Equity Market LLP and others participated in the pre-IPO round.
Recently, Xolopak India filed Draft Red Herring Prospectus (DRHP) with the NSE Emerge. The IPO comprises a fresh issue of up to 52,86,000 Equity Shares with a face value of Rs. 10 each. Beeline Capital Advisors Private Limited is the sole Book Running Lead Manager, and Bigshare Services Private Limited is the Registrar to the offer.
Xolopak India manufactures and supplies wooden cutlery, ice cream sticks and ice cream spoons. Their range covers products like spoons, forks, knives, sporks, coffee stirrers, chopsticks, ice cream sticks, spoons, and kulfi sticks. XIL primarily serves the business-to-business (B2B) segment and operates a production facility situated in Bhopal, Madhya Pradesh.
Xolopak is promoted by Mr. Shashank Mishra and Mrs. Banani Chatterjee, who bring over 17 years of experience in the sustainable disposable packaging industry. With their extensive experience, innovative business ideas, in-depth knowledge, and excellent management and governance skills, the company has efficiently served its customers. They are actively involved in the day-to-day operations, overseeing sales, purchasing, plant operations, finance, and general administration of the company.
The company logged nearly three-fold growth in its revenue from operations at Rs. 31.47 crore in the fiscal year 2023-24, compared to Rs. 11.87 crore in FY2022-23 and has posted a profit (PAT) of Rs. 6.36 crore in FY24 as against Rs. 3.48 crore in FY23.
For more information, please visit: https://xolopak.com/
