MOI SOI, the packaged food and beverages business operated by Ceres Foods Private Limited, completed its first institutional fundraise by securing investments from GVFL Emerging Enterprise Venture Trust and Wipro Consumer Care Ventures. The investment resulted in GVFL and Wipro Consumer Care Ventures collectively acquiring an approximate seventeen percent stake in the company. Founder Deb Mukherjee continues to hold the majority shareholding after the transaction.
Advisory Roles
DSK Legal acted as counsel to Ceres Foods and its founder Deb Mukherjee. The firm’s transaction team was led by Partner Aparajit Bhattacharya, who served as the relationship and lead engagement partner. Additional partners and associates involved in the DSK Legal team included Harvinder Singh, Manhar Gulani, Mala Mehto, Brijesh Ranjan Sahoo and Sumedha Tewari.
IC RegFin Legal represented Wipro Consumer Care Ventures in the deal. The engagement was headed by Senior Partner Puneet Shah, with support from Principal Associate Abhinav Gupta and Senior Associate Daksh Dave.
Sarvaank Associates provided legal advice to GVFL. The firm’s transaction was led by Managing Partner Ankita Singh, assisted by Senior Associate Sanchita Gupta and Associates Dipanjana Das and Aakriti Singh.
Nature of the Business
MOI SOI describes itself as a Pan Asian packaged food and beverages brand. Its product portfolio comprises instant meals inspired by Asian cuisines, a range of sauces and canned beverages. The brand is positioned within the fast‑moving consumer goods sector and targets consumers seeking convenient Asian‑style food options.
Structural Implications
Following the investment, the shareholding pattern of Ceres Foods Private Limited reflects a minority stake held by the two institutional investors, while the founder retains control. The transaction does not alter the founder’s position as the majority shareholder, thereby preserving existing governance arrangements. The infusion of capital is intended to support the company’s expansion plans, product development and market outreach, although specific utilisation details were not disclosed in the public announcement.
Regulatory and Procedural Context
The fundraise was structured as a private placement of equity securities to qualified institutional investors. The advising law firms were responsible for conducting due diligence, drafting the investment agreements, ensuring compliance with the Companies Act 2013, the Securities and Exchange Board of India (SEBI) regulations governing private placements, and any applicable foreign investment guidelines. The firms also assisted in negotiating representations, warranties and indemnities customary in such transactions.
Conclusion
The successful closure of this inaugural institutional round marks a milestone for MOI SOI in its growth trajectory. The involvement of specialised corporate law practices—DSK Legal, IC RegFin Legal and Sarvaank Associates—underscores the transaction’s reliance on expert legal counsel to navigate the procedural and regulatory requirements associated with private equity investments in the consumer goods sector.