o3 Capital acted as the exclusive financial advisor to Lahori on its USD 50 million fundraise from Motilal Oswal Alternatives

Speaking about the deal, Deepesh Garg, Senior Managing Director at o3 Capital said, “It has been a pleasure working with the Lahori team on this landmark transaction. Lahori’s sharp focus on product authenticity, operational excellence, and brand building has created a strong foundation for scale. This partnership with MO Alts marks a significant milestone and positions the company to accelerate its journey toward becoming a national beverage powerhouse.”

Lahori Zeera, founded in 2017 by three cousins – Saurabh Munjal, Nikhil Doda, and Saurabh Bhutna – headquartered in Mohali, has rapidly become one of the fastest growing F&B brands in India. Specializing in traditional Indian beverages with natural ingredients, the company has redefined the category of Desi Indian Beverages, successfully disrupting the beverage industry. In a short span of seven years, this North India based brand has scaled its operations from ~100,000 to five million bottles a day. The brand’s expansive reach now covers 15 states, with aggressive expansion underway in the western and eastern regions to further strengthen its national footprint.

Motilal Oswal Alternatives
Motilal Oswal Alternates (“MO Alts”), the private equity arm of Motilal Oswal Group is one of India’s leading private equity and real estate investment platforms. With a strong focus on founder-led businesses and a deep conviction in India’s long-term growth story, the firm partners with high potential mid-market businesses with clear and mature business models and a leading market position.

Speaking about the fundraise, Mr. Saurabh Munjal, Co-founder and CEO for Lahori, said, “We are thrilled to partner with MO Alts as we embark upon the next chapter of Lahori’s growth journey. This investment will enable us to deepen our distribution in existing markets, expand aggressively into Western and Eastern India, and significantly scale up our manufacturing capacity to meet the increasing demand. MO Alts’ deep understanding of consumer businesses and long-term investment mindset makes them an ideal partner as we work towards building India’s most loved desi beverage brand”

Vijay Dhanuka, Co-head private equity at MO Alts said, “We are excited to partner with Lahori, a brand that has demonstrated exceptional growth by tapping into India’s deep-rooted preference for traditional, natural beverages. We believe Lahori is well-positioned to become a pan-India leader in beverages and we look forward to supporting the team as they build this truly iconic consumer brand.”