Aamir Khan, Ranbir Kapoor, Karan Johar Have Funded This Company's Pre-IPO Round

Xolopak India Ltd. received pre-IPO funding from top Bollywood celebrities like Aamir Khan, Ranbir Kapoor and Karan Johar. Marquee investor Russell Mehta—owner of Rosy Blue India and Akash Ambani's father-in-law—also mopped up minority stakes in the company, according to a press release on Thursday.

Devanathan Govindarajan of Riverstone Capital, Ravi Nathan Iyer, Jyoti Ketan Vakharia and Jayaraman Vishwanathan are among the other investors who participated in the pre-IPO round.

The company has raised about Rs 34.5 crore in its pre-IPO round. The listing for Xolopak is expected to be in October or November 2024.

The Pune-based company filed its draft red herring prospectus on NSE Emerge recently. The offering comprises a fresh issue of up to 52,86,000 shares at a face value of Rs 10 per share, according to an exchange filing.

Beeline Capital Advisors Pvt. is the sole bookrunning lead manager and Bigshare Services Pvt. is the registrar to the offer, it said.

Xolopak India specialises in the production and supply of wooden cutlery, including ice cream sticks and spoons. Their product line includes items such as spoons, forks, knives, sporks, coffee stirrers, and chopsticks, as well as sticks for ice cream and kulfi. It primarily serves the business-to-business segment with a production facility situated in Bhopal, Madhya Pradesh, it said. Amul and Mother Dairy are some of the major clients of the SME.

Shashank Mishra and Banani Chatterjee are the promoters of the company with 17 years of experience in the sustainable disposable packaging industry.

The company's revenue grew almost three times to Rs 31.47 crore in fiscal 2023-24, up from Rs 11.87 crore in the previous year. They also made a profit of Rs 6.36 crore in financial year 2024, compared to Rs 3.48 crore in financial year 2023.