Packaged food retailer Wingreens Farms has raised fresh funds of Rs 22.03 crore in debt and equity from Grand Anicut Fund (GAF) of Anicut Capital.
The board at Wingreen Farms has passed a special resolution to issue 200 non-convertible debentures at an issue price of Rs 10,00,000 per debenture and 29,355 Series B3 compulsory convertible preference shares (CCPS) at an issue price of Rs 692 per share to raise Rs 20 crore in debt and Rs 2.03 crore equity, its regulatory filings with the Registrar of Companies (RoC) show.
The Anju Srivastava and Arun Srivastava-led startup indulge in multiple fast-growing categories in foods and beverages, including healthy breakfast cereals, sauces, dips, instant bakery mixes, juices, protein shakes and multiple organic products. Founded in 2011, Wingreen Farms owns brands named RAW Pressery, Monsoon Harvest, Postcard, Saucery, Organic Country, The Impatient Baker and Spice Rack.
Wingreen is yet to disclose its financials for FY22, however its revenue from operations remained flat during FY21 to Rs 99.5 crore, according to its annual financial statements filed with the RoC. The company incurred a loss of Rs 45.13 crore in the fiscal year ending March 2021.
Wingreens Farms had raised around $17 million by Investcorp in November 2021 along with participation of Omidyar Network India. The company also acquired snacks brand Postcard in May
Source @Entrackr
