Azim Premji invests in BVC. Premji Invest, the investment arm of Azim Premji’s endowment and philanthropic initiatives. Is in talks with Baroda-based specialty aroma chemicals company Best Value Chem (BVC). In order to acquire a controlling stake in the company. However, the transaction involves the selling of stake by existing shareholders and a commitment. Therefore, Azim Premji invests in BVC. In order to infuse the primary capital for capacity expansion to meet increasing demand. From its global customers, BVC said. WHich was founded in 1997. Also BVC’s customers include all major players of the flavours and fragrances (F&F) industry. Like Firmenich, Symrise, Takasago and other global FMCG players.
Stake Holding For Azim Premji
With the backing of Premji Invest, BVC aims to. “Move up the value chain and consolidate our position in the Indian Aroma chemical market”. Said Shaju C.O.O., chief executive officer, BVC. “India is at the tipping point of growth in manufacturing of specialty chemicals and aroma chemicals in particular due to favourable government policies for Make in India and the creation of chemical parks. Recent supply chain disruption from China, including events related to covid-19 and an increase in domestic demand for end-use applications, are acting as significant drivers of growth for the industry,” Shaju said.
Over the last 10 years, the focus of investments done by Premji Invest has been to grow medium-sized Indian companies into large companies that can compete globally.
“The Indian consumer industry will grow significantly over the next decade. It needs companies like BVC to meet their high-quality requirements. There is a tremendous export opportunity for Indian players in global F&F market as it is at the cusp of accelerated growth,” Premji Invest said in a statement.
The venture capital arm of the Azim Premji-backed FMCG company is in talks with over a dozen startups in these areas to invest into them#investments https://t.co/uFrceeL1kF
— Business Standard (@bsindia) May 26, 2020
