 "spices, masala")
Sunrise Foods, the Kolkata-based maker of packaged spices, which competes with the likes of Everest and MDH Masala, has begun the groundwork for a strategic sale that could see its promoters dilute majority stake in the company, said persons in the know. The promoters, which is the Sharma family from Kolkata, may also choose to exit the firm altogether, the sources said, depending on the contours of the deal.
The Sharmas are eyeing a valuation of Rs 2,500 crore, which is two-and-a-half times estimated FY19 sales of Rs 1,000 crore. The company has appointed JM Financial as the investment banker
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