- October 13, 2020 / 4 min readThe momo chain has so far received INR 40 Cr in debt from the Grand Anicut Fund – 2.
QSR chain Wow! Momo Foods has raised Rs 40 Cr in debt from Grand Anicut Fund – 2.
According to filings with the Ministry of Corporate Affairs (MCA), the Kolkata-based chain had received the consent of its board members to allot 600 Non-Convertible Debentures (NCDs) at a face value of INR 10 lakhs per share, aggregating to a total amount of INR 60 Cr, and 1,277 CCPS at a face value of INR 590 per share and a premium of INR 46,398, aggregating to a total amount of around INR 6 Cr.
The momo chain has so far received INR 40 Cr in debt from the Grand Anicut Fund – 2.
The Grand Anicut Fund – 2 is the second investment fund of Chennai-based venture capital firm Anicut Capital.
Wow! Momo Foods last raised funding for a Series B round worth $23 Mn from US-based investment firm Tiger Global Management. After that round, Wow! Momo Foods had an estimated value of $120 Mn.
The group is looking at a global expansion.
Started by three college friends Binod Kumar Homagai, Sagar Daryani and Shah Miftaur Rahman in 2008, it has also entered into the Chinese segment earlier this year by opening Wow!China outlets in the country.
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