Lahori, a Chandigarh-based beverage producer best known for its local-flavored carbonated drinks, is in advanced discussions to secure Rs 400 crore in new funding. This investment could elevate the company’s valuation from Rs 900 crore to approximately Rs 2,700 crore. Founded in 2017 by Saurabh Munjal, Saurabh Bhutna, and Nikhil Doda, Lahori has gained a strong following with its cumin-flavored beverage, Lahori Zeera, alongside its popular Shikanji lemon drink.
The funding round, involving both primary and secondary investments, includes prominent investors and may see Verlinvest, Lahori’s first institutional backer, reduce its stake. With the primary investment of Rs 250 crore, Lahori’s founders may also look to offload part of their shares to support ambitious expansion plans. This capital will help scale production capacity from 5 million to over 8 million bottles daily, aligning with Lahori’s intent to open a new manufacturing facility in Uttar Pradesh, adding to its existing plants in Punjab and Gujarat.
Revenue for Lahori reached Rs 312 crore in 2023-24, reflecting a 50% annual increase, and is projected to hit Rs 500 crore in the upcoming fiscal year. The brand is largely reliant on offline distribution, contributing 99% of total revenue, with online and quick commerce channels gradually expanding. While quick commerce remains focused on top cities, the company expects sales through these channels to grow as digital reach expands.
Lahori reports that roughly 75% of its revenue currently comes from North India, with Mumbai and eastern markets identified for future growth. Interestingly, despite industry trends favoring smaller units, Lahori sees significant demand for its larger-sized bottles. According to the Indian Beverage Association, India’s non-alcoholic beverages sector is projected to grow from Rs 67,000 crore to Rs 1.5 lakh crore by 2030, with Lahori’s expansion aligning well with this upward trajectory.
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