Bikanervala Foods Pvt Ltd (Bikano)

Bikano, a leading name in the Indian snacks and sweets industry, announced the virtual inauguration of its state-of-the-art manufacturing plant in Jewar, Greater Noida, by Prime Minister Narendra Modi. 

Bikanervala Foods Pvt. Ltd, which sells Indian sweets and savouries under the brand Bikano, has initiated discussions with private equity funds to raise as much as Rs.200 crore [PP: about 30 million USD], said two people familiar with the development.

Just three years ago, the Indian savory snacks market was dominated by western snacks such as potato chips and finger sticks that had nearly two-third of the market controlled primarily by Pepsi Frito Lays and ITC Foods.

After repeated unsuccessful attempts to buy out Gujarat-based snacks majors such as Balaji Wafers and A-Top Foods Products, beverage and snacks maker PepsiCo India is in the process of creating its own low-cost foods business and increasing manufactur...