Bollywood Stars Back Xolopak India in Pre-IPO Funding Round

Xolopak India, a sustainable disposable packaging manufacturer, announced investments from Bollywood stars Aamir Khan, Ranbir Kapoor, and Karan Johar in a recent pre-IPO funding round. The company also secured backing from Russell Mehta, among other investors. Xolopak India manufactures organic cutlery and recently filed for an IPO.

Xolopak India, a leading name in sustainable disposable packaging, revealed on Thursday that it has successfully secured investments from Bollywood heavyweights including Aamir Khan, Ranbir Kapoor, and Karan Johar in a pre-IPO funding round.

In addition, Russell Mehta, the prominent owner of Rosy Blue India and Akash Ambani's father-in-law, has acquired a minority stake in the firm. The company, based in Pune, has not disclosed the amount invested by these celebrities and investors.

The pre-IPO round also saw participation from several other investors, such as Devanathan Govindarajan of Riverstone Capital, Minerva Ventures Fund, Nexta Enterprises LLP, NVS Corporate Consultancy Services, Opus Software Solutions, Sarod Reality, Feroz Farms and Holdings, and Viney Equity Market LLP. Xolopak India, known for its organic cutlery and ice cream sticks, recently filed a Draft Red Herring Prospectus (DRHP) with NSE Emerge to raise funds through an initial public offering (IPO), with Beeline Capital Advisors acting as the sole book-running lead manager to the issue.

Financially, the company reported a profit (PAT) of Rs 6.36 crore in FY24, doubling its performance from the previous fiscal. Its revenue from operations saw a nearly three-fold increase, reaching Rs 31.47 crore in FY24 compared to Rs 11.87 crore the previous year.

(With inputs from agencies.)