Millennium Babycares Raises Rs 1220 Mn In Private Placement Round From Bharat Value Fund

Indore, Madhya-Pradesh-based, Millennium Babycares confirmed the closure of the private placement round of Rs 1220 million. Bharat Value Fund, managed by Pantomath Capital Management, invested in the Company for a significant minority stake.

Speaking about its investment in Millennium, Madhu Lunawat, Chief Information Officer (CIO) of Bharat Value Fund observed, “We are pleased to invest in Millennium, recognizing their strong potential in the diaper industry. Bumtum, their flagship brand, is well-positioned for rapid market expansion, both in India and internationally. This investment will support Bumtum’s plant expansion and aggressive growth through General Trade (GT) and export markets”

Bharat Value Fund (BVF) is the second Category II Alternative Investment Fund (AIF) started by India Inflection Opportunity Trust (IIOT) in August 2024 and managed by renowned industry leader Madhu Lunawat with a targeted corpus of Rs 2,000 crore.

Founded in 2015, Millennium is a key player in the hygiene care industry, specialising in baby care, fem-care, and adult care products. The company is a top contract manufacturer and also sells baby diapers under the ‘Bumtum' brand, adult incontinence products under ‘Elduro,’ and fem-care products under "Freeme" through omnichannel sales.

The Company is the first domestic manufacturer in India to set up Japanese lines, which will enable the manufacturing of a high quality, ultra-premium range of products to cater to multiple segments in the Indian and international markets.

Commenting on the equity fundraise, Ramprakash Beria, Founder of Millennium remarked "We are elated to announce a major milestone in Millennium’s journey as we secure an equity raise of Rs 1220 million from Bharat Value Fund. With this private placement, we are confident that Millennium is well-positioned for a robust growth trajectory. We remain committed to our mission of delivering hygiene care products while expanding our market reach and enhancing value for our stakeholders”

Millennium holds prestigious certifications including International Organisation for Standardisation (ISO), Bureau of Indian Standards (BIS), Supplier Ethical Data Exchange (SEDEX), and Good Manufacturing Practices (GMP), demonstrating its commitment to quality and safety. The company also provides a range of additional services such as packaging design, marketing support, after-sales services, and doorstep delivery, enhancing customer experience.