**Bolas Dry Fruit Brand Seeks ₹800–900 Crore in Funding**
Bolas, a prominent dry fruit brand, is reportedly in preliminary talks with private equity investors, including Westbridge Capital, to secure ₹800–900 crore in its inaugural institutional funding round. Sources familiar with the matter revealed that investors are aiming for a significant minority stake in the company, with the funding round expected to comprise both primary and secondary transactions. The company’s promoters are likely to reduce their ownership stake, although discussions regarding valuation are still ongoing.
The funds raised are intended primarily for expanding Bolas’ retail presence in Karnataka, increasing its current 80 stores to between 150 and 200 outlets. Rahul Kamath, co-founder of Bolas, stated in an email that the company has experienced remarkable growth in recent years, driven by its expansion across three main areas: the healthy snacking category, direct-to-consumer retail, and its overall market share in the Indian dry fruits sector. Kamath emphasized that Bolas is exploring strategic opportunities for its next growth phase, with ambitious targets set for FY30 to position the brand as India’s leading dry fruits-based healthy snacking option.
Founded in the early 1940s, Bolas is managed by third-generation siblings Rahul and Rajesh Kamath. Based in coastal Karnataka, the company also operates in Goa and Maharashtra, engaging in commodity trading, processing, and branding. Bolas is recognized as one of India’s top exporters of cashew nuts and coffee and has expanded into direct-to-consumer retail through the acquisition of Mysore Mercantile Ltd. The brand’s edible oil offerings include Palm Raja, Leader Gold, Prajwal, and Sun Taaza, while it also imports and processes a variety of dried fruits such as almonds, pistachios, figs, and dates.
In 2022, Bolas diversified its product range, launching items like seeds, berries, gourmet snacks, honey, and hazelnuts to meet the rising consumer demand for healthy options. The company has also ventured into sweet manufacturing, producing popular items like Kaju Katli, Mysore Pak, and Ladoos.
The dry fruits market is witnessing significant activity as consumers increasingly seek healthy snacking alternatives for post-workout nutrition and meal replacements. Brands such as Farmley, Happilo, True Elements, Yogabar, and The Whole Truth Foods have capitalized on this trend by consistently delivering quality products.
**FAQ**
**What is Bolas planning to do with the funds raised?**
Bolas intends to use the funds primarily to expand its retail presence in Karnataka, increasing its number of stores from 80 to between 150 and 200 outlets.
