Nikhil Kapoor Leads AGRANA Fruit India’s 100% Acquisition via Management Buyout with Strategic Investment from Danish Equbal

Nikhil Kapoor Leads AGRANA Fruit India’s 100% Acquisition via Management Buyout with Strategic Investment from Danish Equbal

Fruit Formulations Private Limited Set to Revolutionize India’s Fruit Processing Industry

New Delhi, India – In a transformative move set to reshape the fruit processing landscape across the Indian subcontinent, Nikhil Kapoor, former Head of Sales at AGRANA Fruit India, has successfully completed the 100% acquisition of AGRANA Fruit India Private Limited. This strategic Management Buyout (MBO), backed by significant financial support from Danish Equbal, has led to the rebranding and formation of Fruit Formulations Private Limited (formerly known as AGRANA Fruit India Private Limited). The new entity is set to become a market leader in the fruit-based products sector, driven by innovation, quality, and strategic expansion.

Nikhil Kapoor: A Leader with Vision and Proven Success

With over 20 years of experience in the food, ingredients and fruit processing industries, Nikhil Kapoor has a strong background in business development, sales strategy, key account management, and customer relationship building. His career includes leadership roles at companies such as Cargill Foods and Givaudan Flavours, where he consistently drove business growth and expanded market share.

A key entrepreneurial achievement for Kapoor was founding Blue Ingredients Private Limited, which he successfully led from 2018 to 2021. Although Blue Ingredients is no longer operational, the experience of building and scaling a company has shaped Kapoor’s leadership approach and strategic thinking.

At AGRANA Fruit India, Kapoor excelled in key account management, particularly with large dairy clients, driving new product development and customer service improvements. His leadership resulted in several breakthrough solutions and a strengthened relationship with key accounts, significantly enhancing delivery efficiencies.

Kapoor also led the launch of innovative products for the Bakery and HoReCa sectors, including Fruit Crushes, Fillings, and Syrups. These innovations helped position AGRANA as a leader in India in specialized fruit-based solutions. Additionally, Kapoor spearheaded the company’s geographic expansion into North India, South India, and Nepal, contributing to significant business growth.

As the CEO of Fruit Formulations Private Limited, Kapoor is focused on taking the company to new heights. Commenting on the acquisition, he said:

“This 100% acquisition is not just about ownership—it’s about building a platform for innovation and redefining the fruit processing industry. Our goal is to set new standards for quality and customization and become the preferred partner for our clients. Through market expansion and continuous innovation, we aim to reshape the industry and create lasting impact.”

Danish Equbal: A Strategic Investor with a Vision for Growth

The success of this acquisition was made possible by the strategic financial backing of Danish Equbal, a seasoned investor with a strong record of driving growth in various industries. Danish is also the Founder and Director of Brickfolio Pvt. Ltd., a prominent real estate and investment firm based in Pune. Under his leadership, Brickfolio has transformed property investment through technology, market insights, and client- centric solutions.

Danish’s decision to invest in Fruit Formulations Private Limited reflects his confidence in the company’s potential to become a leader in the fruit processing sector. His investment will help the company scale operations, explore new growth opportunities, and drive product innovation.

Commenting on the venture, Danish Equbal said:

“Nikhil Kapoor is a proven leader with an exceptional track record. His vision for Fruit Formulations aligns perfectly with my investment philosophy, which focuses on supporting high-potential businesses. Together, we are laying the foundation for long-term success.”

A Strategic Focus on Customisation, Innovation, and Strategic Growth

As Fruit Formulations Private Limited embarks on its growth journey, the company will leverage Kapoor’s expertise in product innovation, market expansion, and customer service. With consumer demand increasingly shifting toward natural, health-conscious, and customized products, the company is well-positioned to capitalize on these trends.

Building on the momentum from AGRANA, Kapoor plans to diversify the product portfolio with clean-label ingredients and customized formulations for both B2B and B2C markets. The company will also prioritize key sectors, such as Bakery, HoReCa, and dairy and ice cream clients, while deepening partnerships and delivering value-added solutions to the food industry.

Geographic expansion across India and South Asia will be central to the company’s growth strategy, focusing on new markets and strengthening its presence in established regions. Customization will remain at the heart of operations, aligning with global trends toward personalization, convenience, and health-conscious consumption.

Kapoor added:

“Our mission is to stay ahead of market trends by delivering innovative, customized solutions that meet the evolving needs of our customers. With Danish’s support, we are poised for rapid growth while maintaining our focus on quality and sustainability.”

A New Chapter for India’s Fruit Processing Industry

The formation of Fruit Formulations Private Limited marks the beginning of a new era of growth, innovation, and leadership in India’s fruit processing industry. With Nikhil Kapoor’s extensive experience and Danish Equbal’s strategic and financial backing, the company is set to push the boundaries of innovation and expand its footprint across the Indian subcontinent market.

As CEO, Kapoor will lead Fruit Formulations Private Limited toward becoming a driving force in the transformation of the industry—centred on quality-driven innovation, tailored solutions, and ambitious market expansion.

About Fruit Formulations Private Limited

Fruit Formulations Private Limited, founded following the 100% acquisition of AGRANA Fruit India Private Limited, specializes in developing innovative and high-quality fruit-based solutions for industries including dairy, ice-cream, bakery, and foodservice. With a focus on customization, innovation, and strategic market growth, the company is positioned to lead the fruit processing sector across the Indian subcontinent and beyond. Backed by strategic investor Danish Equbal, the company is committed to delivering the next generation of fruit-based products through quality-driven innovation and sustainable practices.

Spacenet Makes a Second Strategic Investment in String Metaverse Limited after Billmart.com

Spacenet Makes a Second Strategic Investment in String Metaverse Limited after Billmart.com

Spacenet Enterprises India Limited (NSE: SPCENET), following its strategic investment in BillMart.com, a Mumbai-based bill discounting fintech platform, has boldly positioned itself at the forefront of innovation with a strategic acquisition poised to reshape the landscape of digital entertainment. In a game-changing move, the company has secured a significant stake in String Metaverse Limited, a cutting-edge Web3.0, Esports, Real Money Games, Casual Games platform that promises to redefine the future of interactive entertainment. This visionary investment underscores Spacenet’s commitment to staying ahead of the curve and seizing emerging digital opportunities, solidifying its place as a dynamic force in the ever-evolving world of Esports, Real Money Games, and Casual Games.

String Metaverse Limited, with its presence in India, Hong Kong, and Gift City, is at the forefront of expanding its esports platform across India, the Middle East, South East Asia, and Europe. The company has recently launched a dedicated platform, https://esports.stringmetaverse.com/, designed to empower esports players, streamers, and influencers, enabling them to actively participate and generate revenue streams. With the esports industry poised for exponential growth, this investment reflects Spacenet’s forward-thinking approach and commitment to innovation.

The timing of this strategic move couldn’t be more opportune, as the recent Lumeki report suggests that the Indian gaming industry is on a trajectory to achieve remarkable growth. By 2028, the digital gaming industry is projected to reach a staggering Rs 62,000 Crores, more than double the Rs 26,000 Crores recorded in 2023. India’s gaming landscape comprises approximately 57 Crore gamers, growing at an impressive rate of 12%, and boasts 1540 Crore downloads, making it a pivotal contributor to the global gaming arena.

In addition to its foray into esports, Spacenet Enterprises India Limited is also pleased to announce its outstanding financial performance over the last six months. The company has reported a remarkable 400% growth in net profit for the first six months of 2023-24 compared to year on year. This impressive financial achievement underscores Spacenet’s commitment to delivering value to its shareholders and stakeholders.

Prakash Dasigi, Executive Director of Spacenet Enterprises India Limited, stated, “After a successful stake acquisition in BillMart, a bill discounting fintech platform based in Mumbai, our second venture into String Metaverse Limited reaffirms our confidence that both investments will yield exceptional returns, potentially ranging from 50-100x for our shareholders over the next 3-5 years.”

Ganesh Meenavalli, Director and Head of Global Esports Operations at String Metaverse Limited, confidently predicts that more than 20 million Gen Z, India Esports community will lead the global Esports scenario, potentially eclipsing traditional sports like cricket in popularity by the next decade.

The strategic acquisition of String Metaverse Limited is a testament to Spacenet’s commitment to innovation, diversification, and capitalizing on high-growth sectors. With esports poised to become a major global phenomenon and the company’s remarkable financial performance, Spacenet is positioned for a future of sustained success and growth.

About Spacenet Enterprises India Limited

Spacenet Enterprises India Ltd (NSE: SPCENET) is a global fintech enterprise listed on the National Stock Exchange, committed to transforming trade and trade finance. With a focus on empowering traders, small and medium-sized enterprises (SMEs), micro, small and medium enterprises (MSMEs), and trade channels, Spacenet plays a pivotal role in bridging the trade finance gap. Beyond its services, the company actively builds, invests in, and supports fintech ventures, contributing to the evolution of traditional finance (TradFi). Spacenet’s global approach leverages financial technology to enhance and streamline trade operations, while also fostering growth within the broader fintech ecosystem.

For media inquiries and further information, please contact:

Prakash Dasigi, Executive Director

Prakash@spacenetent.com

+91-9490199661