Candytoy plans to raise 90 cr by diluting 10% stake at Rs 900-cr valuation
Candytoy Corporate, the manufacturer of candy toys for companies such as Colgate, Puma, MTR, Bournvita, Yellow Diamonds, Vistara Airlines and AirAsia among others, is aiming for around Rs 450 crore turnover by the next fiscal year, founder Director Gaurav Mirchandani has said.
Moreover, to fund its growth plans, the Indore-based company has plans to raise 90 crore by divesting 10 per cent equity at a valuation of Rs 900 crore, he added.
Besides, the bootstrap startup firm also plans to get listed on the stock exchange in the next three years, Mirchandani said.
"We are diluting 10 per cent stake in the company through a VC. We are bringing Rs 90 crore which will be primarily invested this year to make sure that we are touching around Rs 400 crore to Rs 450 crore turnover by the next financial year," Mirchandani told PTI.
Candytoy Corporate Pvt Ltd (CTC) had a turnover of around Rs 250 crore in FY 2023-24.
"Now with 30 per cent y-o-y growth in orders for the last two years, we see t