360 ONE Asset invests $70 million in Iscon Balaji Foods

Private capital is stepping up its presence in India’s processed foods sector, with 360 ONE Asset committing around $70 million to Iscon Balaji Foods Ltd, the country’s largest processor and exporter of value-added potato products.

Private capital is making a fresh push into India’s processed foods space, with 360 ONE Asset, a subsidiary of 360 ONE WAM, committing around USD 70 million to Iscon Balaji Foods Ltd (IBF), the country’s largest processor and exporter of value-added potato products.

Integrated farm-to-export model draws institutional interest

Founded in 2013, IBF operates a fully integrated, export-oriented platform spanning seed development, farmer partnerships, large-scale processing, and global distribution. The company was backed by the JP Iscon family and the Balaji Wafers family in its early years, helping kickstart operations and scale its integrated model. Tarun Sharma, Senior Fund Manager and Strategy Head, Consumer & Healthcare, 360 ONE Asset, stated in an official release, “Iscon Balaji Foods is a unique platform—combining high growth, attractive margins and a large global market opportunity. Neel Kotak has built a globally competitive business with strong structural moats and a proven management team sharply focused on execution. This investment embodies our Consumer strategy of backing scaled leaders in their categories, driven by exceptional founders.”

Expansion plans include capacity, farmers, and global markets

IBF partners with more than 10,000 farmers through its contract farming and proprietary seed development programme, enabling consistent quality, traceability, and higher farm-level productivity. With this investment, IBF plans to expand this network to over 25,000 farmers over the next three years. The investment will also support IBF’s next phase of growth, including significant capacity expansion, deepening of farmer-linked supply chains, upgrading processing and cold-chain infrastructure, launch of new value-added product lines, and expansion into additional international markets, the release added.

Neel Kotak, Managing Director & CEO, Iscon Balaji Foods, said, “Over the last decade, we have focused on building a globally competitive, integrated food platform from India. As we enter the next phase of our journey — expanding capacity, product innovation, and international presence — 360 ONE Asset brings long-term capital and institutional partnership that aligns strongly with our vision. We look forward to working closely together as we continue to scale IBF into a leading global food processing company.” Over the past decade, IBF has grown into one of the world’s top 10 frozen potato processors, supplying leading QSR and foodservice customers across India, Southeast Asia, the Middle East, and the Far East.

Avendus Capital acted as the exclusive financial advisor to Iscon Balaji Foods on the transaction.

Published on January 16, 2026