Manna Foods gets funding of Rs 152 crore

Manna Foods’ flagship product, Manna Health Mix is a ready to cook improvisation of ‘sathumaavu’, a traditional homemade multi-grain mixture of cereals, millets and pulses that is cooked in hot milk. 

“At a time when people are quitting synthetic preparations and switching over to organic and traditional food, Manna Foods is excited about the partnership with Morgan Stanley in the health foods space in India,” said ISAK Nazar, Company promoter. 

Arjun Saigal, Co-Head of Morgan Stanley Private Equity Asia in India, said, “Foods based on home-grown grains such as millets are regaining popularity, offering ‘super

food’-type nutritional content at an affordable cost. We look forward to driving Manna’s next phase of growth.” 

The proceeds will be used to fund Company’s expansion in South India as well as provide part exit to existing investors. The Company had earlier raised Rs 30 cr from early growth investors led by Fulcrum in 2015. MAPE Advisory Group acted as the sole financial advisor for the transaction.