The latest funding round was led by Ashish Kacholia with participation from Alchemy Fund. Following this investment, Wingreens’ total capital raised has now reached Rs 556 crore.

The company’s previous major fundraising happened in 2021 when it secured Rs 124 crore in an equity round led by Investcorp.

With the acquisition of Safe Harvest, Wingreens aims to strengthen its presence in the fast-growing farm-to-consumer food segment. The company will now operate through three major brands — Wingreens Farms, Raw Pressery, and Safe Harvest.

Safe Harvest is known for its focus on pesticide-free food products and sustainable rural livelihoods. The company works with more than 100,000 farmers across India, many of them women associated with Self Help Groups (SHGs) and Farmer Producer Organizations (FPOs).

Its product range includes cereals, grains, pulses, millets, flours, whole spices, cold-pressed oils, natural sweeteners, and honey. The company also claims that all its products undergo 100% batch-wise pesticide testing and certification to ensure quality and safety for consumers.

According to the company, the fresh capital will be used to expand its product portfolio, strengthen distribution channels, improve supply chain integration, and invest further in innovation and farmer partnerships.

Together, Wingreens Farms, Raw Pressery, and Safe Harvest are expected to create a large integrated food and beverage platform focused on healthy eating, transparency, sustainability, and inclusive growth in India’s evolving FMCG sector.

Wingreens currently owns a wide portfolio of brands and products including dips, spreads, sauces, mayonnaise, baked chips, muesli, granola bars, oats, juices, protein shakes, almond milk, iced teas, and lemonades, making it one of the emerging players in India’s health-focused packaged food market.

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The company did not comment on transaction details.

Founded in 2020 by Sumant Kakaria, Gaurav Chopra, Vikram Iyer, and Aprajit Kathuria, Solethreads operates in the open and casual footwear segment, offering sneakers, slides, and flip-flops across online and offline channels.

The Gurugram-based company has raised over $7 million in funding to date. In July 2023, it secured $3.7 million in a Series A round led by Fireside Ventures, with participation from DSG Consumer Partners, Saama Capital, and angel investors including Nihir Nalin Parikh and Dhaval Nalin Parikh. Prior to this, the startup had raised around $3.5 million from DSG Consumer Partners and Saama Capital.

Following the acquisition, the focus will be on enhancing domestic manufacturing, strengthening product development, and expanding the brand’s offline footprint, including exclusive brand outlets.

“At scale, we needed a long-term solution for in-house design and domestic production capabilities. As the founding team moves on, I am confident Mr. Mirza and his team will take the brand to new heights,” said Sumant Kakaria, CEO of Solethreads.

Solethreads said the brand reached a monthly run rate of Rs 6 crore within four years of inception. The company started as a digital-first brand but has also successfully expanded into offline retail. By 2025, it had a presence in 600 MBOs and had opened 8 EBOs.

“Over past couple of years, we’ve dabbled in building up few brands from scratch, like Thomas Crick and Off The Hook, and got reasonable success as well. But I want to build a large semi-premium brand in the casual footwear space, for which Solethreads is at the perfect stage,” said Tauseef Mirza.

The deal comes at a time when the Indian footwear sector is witnessing increased activity, supported by steady demand for design-led products. It follows earlier transactions such as Metro Brands’ acquisition of Fila in 2022 and Ananta Capital’s acquisition of Bacca Bucci in 2025.

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Founded in 1977 and headquartered in La Roca near Barcelona, Frime specialises in premium yellowfin tuna and serves retail and foodservice customers across 33 countries. The company generates more than €180 million ($213 million) in revenue and holds over 20% share of Europe’s yellowfin tuna market.

With this acquisition, Captain Fresh expands its multi species portfolio and gains a major processing footprint in Europe. Frime operates four production sites across seven factories with an annual processing capacity of 15,000 tonnes of frozen products, 9,000 tonnes of fresh tuna and 3,800 tonnes of semi-preserved products. The company recently invested €50 million ($59 million) in modern processing facilities in Barcelona.

Captain Fresh said that the acquisition strengthens its presence across three large seafood categories including crustaceans, salmon and tuna. The company plans to scale Frime’s tuna through its distribution network in the United States and expand its crustacean and salmon portfolio across Europe.

Frime’s leadership team, including chairman Salvador Ramon Mateo and CEO Pablo Múgica, will continue to lead the company within the Captain Fresh group.

The development comes months after Captain Fresh withdrew its draft red herring prospectus filed with the Securities and Exchange Board of India. The company took this step to facilitate closure of a material acquisition and maintain flexibility in its capital structure.

Captain Fresh has expanded globally through acquisitions. In 2024, it acquired Poland based salmon company Koral to strengthen its presence in the European salmon market. Earlier, it acquired US based seafood importer CenSea and France based seafood distributor Senecrus.

According to its FY25 financials, Captain Fresh reported a 2.5X jump in gross merchandise value to Rs 3,421 crore in FY25 from Rs 1,395 crore in FY24. The company also posted a net profit of Rs 42 crore compared to a loss of Rs 229 crore in the previous year.

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The deal is expected to be completed within a month, Marico said in its stock exchange filing. 

The fast-moving consumer goods (FMCG) major also said in the exchange filing, “The company has the right to acquire the remaining stake in Zea Maize after completion of 3 years from execution date at a consideration to be determined at such time, subject to achievement of certain milestones, requisite approvals and terms and conditions under the definitive agreements.”

PVR INOX invested in the brand more than a decade ago and 4700BC has entered its next phase of growth. It needs a sharper FMCG focus, deeper distribution reach and accelerated new product launches, the movie exhibitor said in its release. 

“Over the years, the brand has built a strong multichannel presence spanning modern retail, digital commerce and institutional commerce. This business has successfully grown outside cinemas and become an FMCG brand,” Gaurav Sharma, chief financial officer (CFO), PVR INOX, told Business Standard.

He added that the brand has reached a scale where the next phase of growth requires deeper FMCG capabilities like a wide distribution network and product expansion capabilities.
“At PVR INOX, we feel we have played our role in nurturing the brand and at this stage the brand is better supported by a large FMCG platform like Marico,” Sharma said. 

He also said that the transaction represents a timely monetisation for the company of a non-core asset and the opportunity to unlock shareholder value. 

PVR INOX will use the proceeds of the sale to reduce debt and invest in its core business of cinema exhibition, Sharma said. 

“The investment in 4700BC aligns well with Marico’s ambition to participate in fast-growing food categories through distinctive, future-ready brands. We see immense potential in 4700BC as a premium snacking brand with deep consumer connect and proven execution. Together, we will tap the opportunity to leverage our existing scale in foods to broaden the brand’s presence across channels, while staying true to its consumer-first ethos and harnessing its top-notch innovation capabilities,” said Saugata Gupta, managing director (MD) and chief executive officer (CEO) at Marico, in its release.

Axis Capital acted as the exclusive financial advisor and Shardul Amarchand Mangaldas & Co was the legal advisor to PVR INOX for this transaction. 

Ajay Bijli, MD, PVR INOX, said, “We recognised the potential in 4700BC at a very early stage and supported the brand through its formative years. From a niche gourmet popcorn offering, it has grown into a nationally-recognised premium snacking brand. As it looks to scale further and broaden its ambition, the brand is well positioned under the stewardship of a scaled FMCG leader like Marico. For PVR INOX, this transaction represents a natural culmination of our strategic role and enables us to monetise a non-core asset.”

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The combined entity will operate more than 3,000 KFC and Pizza Hut outlets, franchises of Yum Brands (YUM.N), opens new tab, in India and overseas, going up against the Domino’s Pizza operator Jubilant’s 3,480 outlets in the country.

Devyani’s (DEVY.NS), opens new tab stock was last trading 2.8% higher at 151.39 rupees.

The merger was a “welcome strategic move”, said analysts at JP Morgan, as it meant a simplified structure, potential for meaningful cost savings and quicker decision making, helping Devyani compete more effectively with peers and food delivery platforms.

The merger comes as India’s fast‑food franchisees contend with higher operating costs, slowing same‑store sales and margin pressures, while consumers trim discretionary spending. Both Devyani and Sapphire logged losses in the September 2025 quarter.

The combined business could deliver revenue and operating profit 50%–60% above current levels, with a scale and growth trajectory approaching Jubilant’s, though margins are expected to remain comparatively weaker for now, added Emkay Global.

Devyani will issue 177 shares for every 100 Sapphire shares under the deal.

Sapphire Foods slipped about 3% to 254.25 rupees, while Jubilant’s shares were trading 0.2% lower at 552.20 rupees.

The merger ratio is very close to where the stock prices closed on January 1 and so there is no major price adjustment that can arise out of this deal, said Jefferies analysts.

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In a regulatory filing dated December 23, Brainbees said Swara Baby will acquire 100% equity ownership in KA Hygiene through a share swap transaction valued at Rs 57.74 crore. As part of the deal, Swara Baby will issue 38,49,572 equity shares to the existing shareholders of KA Hygiene. The transaction does not involve any cash consideration.

Incorporated in 2019, KA Hygiene manufactures and trades hygiene products. The company recently took over the business operations of a related entity operating in the same segment. On a consolidated basis, the hygiene business reported revenue of Rs 84.01 crore in FY25, compared with Rs 80.42 crore in FY24 and Rs 58.45 crore in FY23.

The firm reported a profit after tax of Rs 5.22 crore in FY25. KA Hygiene has only recently commenced standalone operations, and its individual financials are currently negligible.

Separately, Brainbees has earlier incorporated Swara Corp in the United States through Swara Baby Products as part of its overseas expansion plans in the hygiene and disposable products category.

Brainbees recently reported consolidated revenue from operations of Rs 2,099 crore in Q2 FY26, while posting a positive EBITDA of Rs 111 crore for the quarter ended September 30, 2025.

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The company informed the bourses on Monday about the restructuring of the promoters’ holding. The acquisition of 16,87,88,138 equity shares from Jenson & Nicholson (Asia) Limited, a wholly-owned subsidiary of the acquirer, is scheduled to take place on or after December 29.

The transaction, involving nil consideration, is being executed under a scheme of amalgamation sanctioned by the National Company Law Tribunal (NCLT) and the Jersey Financial Services Commission, a statement said. The promoter entity said the restructuring is aimed at rationalising and simplifying the existing group structure by reducing the number of legal entities and jurisdictions.

The move is expected to significantly cut regulatory compliances and administrative costs, while consolidating monitoring and assets at the ultimate holding company level. It also seeks to enable more efficient utilisation of capital and optimal resource management through the pooling of financial, managerial and technical expertise across the group.

Upon completion of the transfer, UK Paints (India) Private Limited’s direct shareholding in Berger Paints will rise from 50.09 per cent to 64.57 per cent. The filing clarified that there will be no change in the overall aggregate shareholding of the promoter and promoter group in the company.

The proposed acquisition is exempt from open offer requirements under SEBI regulations. The volume-weighted average market price of Berger Paints shares for the 60 trading days preceding the notice stood at Rs 546.63 per share.

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The deal is likely to set an equity valuation of about $200 million (₹1,791 crore) on Vibrant Energy, the people said. Inox Green is part of the Inox Group and India’s only listed renewable power operations and maintenance (O&M) services company.

Both sides inked the definitive agreement for the transaction on Friday, and an official announcement is expected soon, the people said.

Inox Green didn’t respond to email queries. A spokesperson for Macquarie declined to comment.January that Macquarie had revived plans to divest Vibrant Energy after appointing Standard Chartered Bank to run the sale process, with an earlier target enterprise valuation of about $500 million.

Vibrant Energy supplies renewable power to commercial and industrial (C&I) clients. The company operates a renewable portfolio of about 800 MW, with an active development pipeline of 2 GW, spanning wind and solar projects.

Singapore-based Vibrant Energy Holdings is the principal holding company for the India portfolio. Founded in 2015, Vibrant was acquired by US-based telecom firm ATN International in 2016. In 2020, Blueleaf Energy – owned by Macquarie’s Green Investment Group (GIG) – took a majority stake, subsequently boosting its holding to about 93%, with the remainder held by ATN.

Vibrant has a strong client base in Andhra Pradesh and Telangana, with Amazon as its biggest customer. The company has signed power purchase agreements (PPAs) with Amazon for nearly 500 MW of renewable energy capacity. In 2022, it inked a PPA to develop 300 MW of renewable capacity in Madhya Pradesh and Karnataka, followed by a 198 MW wind project in Maharashtra in 2023.

Earlier attempts by Macquarie to sell Vibrant had stalled. In April last year, the asset manager dropped its initial sale plans due to valuation differences with potential buyers. At the time, Vibrant had held discussions with investors such as Bain Capital, Sun Energy, and Vitol, with JP Morgan advising on the process.

For Inox Green, the acquisition would significantly bolster its presence in India’s fast-growing renewable energy ecosystem. The company – a unit of Inox Wind under the INOXGFL Group – currently manages over 5 GW of renewable assets under long-term O&M contracts.

Last year, Inox Green secured board approval to raise up to ₹1,050 crore through preferential issuance of equity shares and convertible warrants to accelerate growth in its O&M business. The fund raise attracted marquee investors, including Ashish Kacholia.

The latest deal comes amid a sharp acceleration in renewable energy demand from C&I customers in India.

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The move comes shortly after Udaan raised $114 million in its Series G round led by M&G Investments and Lightspeed. The deal is expected to strengthen Udaan’s operational efficiency, deepen its presence in key markets, and boost its path to profitability and IPO, the company said in a press release.

Founded in 2015, ShopKirana focuses on digitizing procurement for kirana stores across tier II and III cities such as Indore, Bhopal, Lucknow, Agra, Surat, and Meerut. Its integration with Udaan will expand the latter’s reach in high-frequency categories like FMCG and HoReCa.

Udaan said the combined entity will drive improved operating leverage and supply chain efficiency, while delivering greater value to retailers and brands.

The acquisition also brings Info Edge on board as a shareholder in Udaan. According to TheKredible, ShopKirana has raised a total of $50.46 million in funding till date from investors including Info Edge, Sixth Sense Ventures, Oman India Joint Investment fund.

According to Udaan, the merger is aimed at building a “preferred platform for kiranas and brands,” with a focus on cost leadership and scale-driven profitability. Udaan has been on a cost optimization drive over the past two years, reducing fixed costs by 20% and cutting EBITDA burn by 40% in CY2024, followed by another 20% reduction in 2025 so far. The company also claims that its contribution margin improved by over 300 basis points last year and is up by another 100+ bps year-to-date.

For the fiscal year ended in March 2024, Shopkirana’s gross revenue decreased 6.26% to Rs 639.16 crore in FY24 from Rs 681.81 crore in FY23. However, the firm managed to reduce its losses by 30% to Rs 55 crore in FY24. Its FY25 results has yet to come.

This is the second major consolidation in the B2B e-commerce space. Recently, Jumbotail acquired Solv India for an undisclosed amount. Soon after the deal, Jumbotail also raised $120 million in its Series D round and became another unicorn in the space.

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Stocko clocks a daily notional turnover of around Rs 1 lakh crore, making it one of the most active discount brokers in the country.

Subject to regulatory approvals, Stocko will be rebranded as InCred Stocko and integrated into InCred Money, the group’s digital-first wealth and investment platform.

The transaction underscores InCred Group’s commitment to building a full‑stack financial ecosystem, spanning lending, asset and wealth management, capital markets, and retail investing, backed by robust technology and a relentless focus on customer experience.

Stocko, launched in 2013, has become a trusted name for active traders and retail investors, offering trading across equities, derivatives, commodities, and currencies. With a sleek, intuitive interface and flat-rate pricing of just Rs 12.99 per order, it delivers exceptional value at scale. Stocko also offers a unique subscription plan for active traders where pricing can go as low as Rs 2.99 per order.

“India’s investing ecosystem is evolving rapidly,” said Bhupinder Singh, Founder and Group CEO of InCred. “Stocko gives us a proven platform with serious volume, and we’ll bring our tech, capital, and customer-first mindset to unlock its full potential.”

InCred Money, where Stocko will now reside, is the group’s digital wealth-tech arm, offering alternative investments and FDs, to the retail customers. With the addition of Stocko, InCred Money will now also offer equities and derivatives, rounding out a comprehensive investment suite for digital-first users.

Shrey Jain, CEO of Stocko, added, “This is a massive leap forward for us. With InCred’s backing, we’ll scale faster, innovate harder, and roll out smarter products – from enhanced margin funding to sharper tech. Our goal is simple: to become one of India’s top 20 brokers in the next two years, and top 10 brokers in 4-5 years.”

The Stocko team will continue to run the business under the InCred banner, ensuring continuity and client-centricity through the transition.

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