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Carpediem Capital Invests $6.5M in 1-India Family Mart

1-India Family Mart is a leading value retail chain with 38 mid-sized retail stores in tier II /III cities and smaller towns in eastern and northern India

Delhi-based Nysaa Retail Pvt. Ltd, which operates a chain of value retail stores under the brand name “1-India Family Mart”, has raised around $6.5 million from private equity (PE) fund Carpediem Capital. The PE fund typically makes investment in range of $2-$8 million, and this is the fund’s fifth investment from its maiden fund. 

Nysaa Retail is a value retailer selling apparels and general merchandise in Tier II/III cities and smaller towns. The company began operations in October 2013 and is led by first generation entrepreneurs Jay Prakash Shukla and Ravinder Singh. The company will utilize the capital to fund expansion and strengthen technology and capabilities.

“Our focus is to provide the best retail experience to people in our target markets. We are excited that Carpediem team has decided to partner with us in building the next phase of Nysaa’s growth. With additional resources and bandwidth, we will now accelerate our expansion into markets which are significantly underpenetrated.” said Mr. Jay Prakash Shukla, Founder & CEO of Nysaa Retail.

Arvind Nair, Chairman and Hithendra Ramachandran, Managing Director of Carpediem Advisors Pvt. Ltd. will join the board of Nysaa Retail.  “J.P. Shukla and Ravinder Singh have built a solid business, providing top class retail experience at smaller towns, where organized retailing is underpenetrated. The customer service model developed is remarkable. As the customers at these towns become savvy, the demand for organized retail will grow rapidly in the coming years. Carpediem is excited to participate and support the management team in building this great consumption story.” said Mr. Arvind Nair.

Prabhudas Lilladher Capital Markets Pvt. Ltd. acted as the exclusive financial advisor for the transaction.

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