JM Financial PE invests Rs 45 crore in Energy Beverages

JM Financial Private Equity has invested Rs 45 crore in Energy Beverages Pvt. Ltd., the company behind the rapidly growing bottled water brand "Clear."

The investment marks the fifth from JM Financial's Fund III, focusing on growth-oriented companies in the mid-market space. The company will use the raised capital for brand building, enhancing production capacities, and expanding the distribution network across India.

Expanding footprint in HoReCa and Retail

Founded by Nayan Shah, a first-generation entrepreneur with over 18 years of experience in the beverage industry, Clear has become a notable player in the HoReCa (hotels, restaurants, and cafes) segment. 

Recent acquisitions and launches

In a move to diversify its product portfolio, Clear acquired a 51% majority stake in Pune-based Kelzai Secrets Pvt Ltd, which offers volcanic water. Additionally, the company introduced its natural mineral water brand, NubyClear (NU), in India. These initiatives demonstrate Clear's commitment to innovation and quality in the bottled water market.

Darius Pandole, Managing Director and CEO of JM Financial Private Equity highlighted the untapped potential of the Indian bottled water market, which is experiencing a shift from unorganized to organized sectors. This transition is driven by increasing health awareness and hygiene concerns, especially in the post-Covid era.