JM Financial Private Equity Invests INR 450 Million in Energy Beverages Pvt. Ltd.’s Clear Brand

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Clear Premium Water

New Delhi, March 14th, 2024: JM Financial Private Equity (the “Fund”) has recently concluded an investment of INR 450 million in Energy Beverages Pvt. Ltd. (“Clear” or the “Company”).

Energy Beverages Private Limited is the proud owner of “Clear,” a rapidly growing national bottled water brand. Founded by first-generation entrepreneur Mr. Nayan Shah, the Company has established itself as a key player in the HoReCa (hotels, restaurants & cafés) segment and is making significant strides in the retail market across India. Mr. Nayan Shah brings over 18 years of experience in the beverage industry to the table.

With a widespread presence throughout India, the Company is strategically expanding its distribution network across the nation. The investment proceeds will bolster brand-building initiatives and further strengthen the Company’s existing capacities and distribution channels.

Mr. Darius Pandole, MD & CEO – Private Equity at JM Financial, remarked, “The Indian bottled water market exhibits vast untapped potential and fragmentation. We are observing a fundamental shift in consumption patterns from the unorganized to the organized market, driven by factors such as hygiene and heightened health consciousness in the post-COVID era. Clear has demonstrated impressive growth, establishing a formidable presence nationwide. With a seasoned management team at its helm, Clear is well-positioned to ascend and solidify its status as one of India’s premier bottled water brands.”

Mr. Nayan Shah, Founder and CEO of Energy Beverages Pvt. Ltd., expressed, “At Clear, quality and innovation form the bedrock of our ethos. Our commitment to innovation is evident in pioneering initiatives such as vertical labeling, square-shaped bottles, and sustainable packaging solutions. Over the past three years, our company has experienced exponential growth, and we anticipate an even more accelerated trajectory in the years to come. The capital infusion and partnership with JM Financial Private Equity will expedite our current and future expansion endeavors. Our primary focus remains on crafting a leading bottled water brand synonymous with trust and quality.”

This marks the fifth investment from Fund III, aligning with its strategy of investing in growth-oriented mid-market companies.