Exclusive: Motilal Oswal pumps Rs 200 Cr into Lahori

Beverage brand Lahori is raising Rs 200 crore (approximately $23 million) from Motilal Oswal. The funding came after a hiatus of three years for the Punjab-based company.

The board at Lahori has passed a resolution to issue 4,997 Series B preference shares at an issue price of Rs 4,00,252 each to raise Rs 200 crore or $23 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows.

The investment will be used for the growth and expansion of the business, the filing further added. According to Entrackr’s estimates, the company is valued at around Rs 2,800 crore or $329 million post-allotment.

The company is reportedly in the process of raising Rs 450 crore in a new round.

Following the latest fundraise, Motilal Oswal has acquired a 7.14% stake in the company. Existing investor Verlinvest’s shareholding has been reduced from 21.17% to 19.64%, while Lahori’s founder's stake has been diluted from 76.21% to 70.76%.

Lahori Zeera has emerged as one of India’s fastest-growing independent beverage companies over the past decade. The brand offers a range of traditional Indian beverage products, including Lahori Zeera, Lahori Nimboo, and Lahori Shikanji

Lahori is yet to file its annual results for FY25. During the fiscal year ended March 2024, its revenue from operations grew 47% year-on-year to Rs 312 crore. Notably, the profits of the company spiked 3X to Rs 22.5 crore in the same period. According to its CEO, Saurabh Munjal, Lahori had a target of Rs 500 crore revenue in the FY25.

Motilal Oswal Group has been actively investing since leading a $350 million round in quick commerce platform Zepto and a $153 million round in nutrition platform HealthKart in November last year. It also took part in Zomato’s $1 billion fundraising through a Qualified Institutional Placement (QIP). In December 2024, it invested $12 million in IPO-bound Captain Fresh and extended a $6 million debt to education-focused NBFC Auxilo in February this year.