Since HUL took over Kwality ice cream in phases after buying the trademark in 1994 or even after Malaysian PE firm Navis lapped up Nirula’s in 2006 for Rs 90 crore.
Tata Group, India’s biggest conglomerate, and Dabur India Ltd., the $11.3 billion consumer-goods company, are among suitors selected for the second round of bidding.
The inclusion of Denmark's Carlsberg and Belgium's AB Inbev are putting pressure on prices and lowering margins, intensifying the rivalries between international giants.
Swiggy held talks with a host of new investors including SoftBank, growth equity firm General Atlantic and a couple of Chinese hedge funds for the new round.