MUMBAI: Anand Pandit owned Lotus Group of Companies has acquired 12.5% stake in BSE-listed Toyam Industries Limited, at a company valuation of $30 million.
Toyam Industries is one of India’s biggest sports management and marketing brands promoting combat sports through Kumite 1 League, an Indian mixed martial arts promotion.
Pandit’s claim to fame is as the producer of the recently released biopic on Prime Minister Narendra Modi.
Toyam lays claim to establishing the combat sports genre in India. The Kumite 1 League introductory event in September 2018 boasted global boxing superstar Mike Tyson as brand ambassador and was broadcast across 90+ countries.
Later this year, the brand will be hosting Kumite 1 Warrior Hunt, a sports reality series for popularizing MMA to a mass audience in India.
Speaking of the acquisition, Mohamedali Budhwani, Toyam Industries Limited CMD, said: “We have been building combat sports in India through different initiatives, the investment makes the dream much stronger and creates better opportunities to grow the genre.”
On the investment, Pandit opined: “Toyam Industries Limited and Kumite 1 League has been one of the forerunners for creating a mass segment audience for combat sports in India, we are happy to support the initiative.”
Along with Lotus , Sunil Alagh, Ex-CEO & MD Britannia Industries Limited, businessman Parimal Mehta, and Zulfiquar Ghadiyali, CEO of the “Royal” office Sheikh Tahnoon Bin Saeed Bin Tahnoon Al Nahyan, have also acquired a significant stake in Toyam.
