JM Financial Private Equity(JMFPE), a part of the Mumbai-based financial services group, JM Financial is investing Rs 45 crore inEnergy Beverages Private Limited, which owns thebottled-water brand, ‘Clear Premium Water’.

The investment will be used to support brand-building initiatives and to increase the current capacities and distribution network, the company said. With an existing presence across the country in the HoReCa (hotels, restaurants, and cafes) segment, the company is now focusing on expanding its distribution and setting a foothold in the retail market of India.

“The Indian bottled water market is highly under-penetrated and fragmented, and we are witnessing a structural shift in consumption from the unorganized to the organized market, owing to factors like hygiene, and a general rise in health awareness in a post covid world,” Darius Pandole, MD and CEO of Private Equity of JM Financial said.

This is the fifth investment from JM Financial India Growth Fund III. This is a sector-agnostic growth-capital private equity fund that invests in high-growth-oriented companies in small to mid-market space with a focus on financial services, consumer, IT/ITeS, infrastructure services, and manufacturing sectors.

Nayan Shah, founder and CEO of Energy Beverages said, “Pioneering vertical labelling, square-shaped bottles, I demonstrate our commitment to innovation. The capital infusion and partnership with JM Financial Private Equity will help us fast-track our current and future expansion plans’, he said in a media release.

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