Karnataka-based confectionery and food brand Dharwad Big Mishra Pedha Private Limited has raised ₹300 crore from Bharat Value Fund, managed by The Wealth Company, as the 93-year-old company looks to accelerate its expansion beyond its traditional markets.
The investment, made for an undisclosed stake, comes as Big Mishra seeks to strengthen its position as a national Indian food brand. The company currently operates more than 200 outlets across Karnataka, Goa and southern Maharashtra and serves around 10 million customers annually.
From Dharwad heritage to a growing food business
Founded in 1933, Big Mishra Pedha traces its roots to Dharwad and has built its reputation around the region's iconic pedha. Over the decades, the company has expanded beyond traditional sweets into a broader portfolio spanning sweets, namkeen, bakery products, masalas, ready-to-eat products and other packaged foods.
The company now has a portfolio running into hundreds of products and has developed a largely franchise-led retail network, supported by distributors and other sales channels.
Its growth is increasingly extending beyond its traditional stores, with the brand also expanding through modern retail and quick-commerce channels.
Revenue has more than doubled since FY22
Big Mishra's reported revenue has grown from approximately ₹142 crore in FY22 to more than ₹300 crore in FY26, reflecting the company's rapid expansion over the period.
The business has also invested approximately ₹100 crore in manufacturing capacity over the past three years. The additional capacity is expected to provide the company with headroom to support its planned retail and geographic expansion.
The company has indicated that its profitability remains healthy as it enters the next phase of growth.
Plans 100 new outlets and entry into 50+ cities
The fresh capital will support an ambitious expansion programme.
Big Mishra plans to add approximately 100 new outlets over the next two years, taking its network from more than 200 stores to potentially over 300.
It also plans to enter more than 50 new cities during the same period.
The expansion marks a significant shift for a brand that has historically been concentrated in Karnataka and neighbouring markets. The company is looking to use its established brand recognition, manufacturing capabilities and distribution network to build a larger national presence.
Moving beyond the traditional mithai-store model
The company's strategy is not limited to opening more physical stores.
Big Mishra is expanding across multiple channels, including franchise outlets, distribution, modern trade and quick commerce. It has also been developing its bakery and restaurant formats.
The broader product portfolio gives the company an opportunity to move beyond the seasonal and occasion-led consumption associated with traditional Indian sweets and compete across a wider range of everyday food categories.
Why Bharat Value Fund's investment matters
The ₹300 crore investment from Bharat Value Fund provides Big Mishra with institutional capital at a critical stage in its growth.
For Bharat Value Fund, the investment reflects the increasing investor interest in branded regional food companies that have strong consumer recognition but significant room for geographic expansion.
The fund's investment approach includes providing portfolio companies with strategic, governance and business-development support alongside capital.
The investment also comes against a broader trend of institutional investors backing established Indian food and snack brands as consumers increasingly shift towards organised, branded products.
Valuation and stake remain undisclosed
While the investment amount has been disclosed at ₹300 crore, the parties have not revealed the percentage stake acquired by Bharat Value Fund.
As a result, the transaction's implied valuation cannot currently be determined.
The company has also not publicly disclosed a detailed allocation of the ₹300 crore across stores, marketing, distribution, technology or other expansion initiatives.
A 93-year-old brand enters its next phase
For Big Mishra Pedha, the transaction represents a significant transition from a regional heritage confectionery business into a potentially national food platform.
With more than 200 outlets, around 10 million annual customers, revenue above ₹300 crore and substantial recent investment in manufacturing, the company already has a sizeable operating base.
Its next challenge will be scaling that model beyond its existing strongholds while maintaining product quality, consistency and the heritage associated with the Big Mishra name.
If the planned 100 new outlets and entry into 50-plus cities are executed as intended, the ₹300 crore investment could mark a major turning point in the evolution of one of Karnataka's best-known traditional food brands.