Aavishkaar Capital announces exit from Jharkhand based dairy enterprise, Osam Dairy Pvt. Ltd
Mumbai, August 5th, 2025: Aavishkaar Capital, India’s leading impact investing fund, and part of Aavishkaar Group, announced its recent exit in HR Food Processing Pvt. Ltd. (Osam Diary) marking a key milestone in its portfolio and underscoring its commitment towards generating impactful and sustainable returns.
Osam Dairy, established in 2012 and headquartered in Ranchi, Jharkhand, is a regional integrated dairy company focused on sourcing, processing, and distributing high-quality milk and dairy products. The company built a robust cold-chain infrastructure, directly sourcing from over 60,000 farmers and reaching consumers through its own distribution network across Bihar and Jharkhand.
The exit from our investment in Osam Dairy was concluded through a 100% acquisition by Dodla Dairy Ltd. in an all-cash deal valued at ₹271 crore. Dodla, a leading listed dairy company based in Hyderabad, acquired Osam to expand its footprint in Eastern India—leveraging Osam’s deep presence across Bihar, Jharkhand, and West Bengal.
Our investment thesis centred around three core themes: Formalizing a fragmented dairy supply chain in underserved regions of eastern India, empowering smallholder dairy farmers, especially women, through direct procurement and training and leveraging strong operational execution and local brand affinity to scale efficiently.
“Our exit from Osam Dairy marks not just a financial milestone but a validation of grassroots resilience. When we at Aavishkaar Capital invested in and partnered with Osam, we believed in the transformative power of decentralized dairy models to uplift livelihoods across Bihar and Jharkhand. Watching a regional brand scale while staying true to its community roots reaffirms our thesis: impact and returns can — and must — go hand in hand.” said Shilpa Maheshwari, Managing Director, Strategy and Finance at Aavishkaar Group.
Osam has made the following tangible developmental and social impact:
- Farmer livelihoods: Over 60,000+ dairy farmers onboarded from low-income States of Jharkhand, West Bengal and Bihar.
- Stable market linkages: Daily procurement enabled assured income for rural households
- Employment: Over 700+ direct and indirect jobs created many in last-mile logisticsNutrition & access: Affordable, quality dairy products reaching underserved consumers in Tier 2/3 markets
Commenting on the exit, Vineet Rai, Founder, Aavishkaar Group and Managing Partner, Aavishkaar Capital said, “Over the life of our investment, Osam more than tripled its milk procurement and processing capacity, grew its branded portfolio (milk, curd, paneer) significantly, and strengthened its rural and urban distribution channels. The acquisitions reflect their strong foundation and the vision of their leadership.”