Amit Kumat took risks and began his career in the chemical industry, but his business failed within a year. He sought help from his brother, Apoorva Kumat, and his friend, Arvind Mehta, convincing them to invest Rs 15 lakh in a snacks business. Today, his business ‘Prataap Snacks’ has a market cap of more than Rs 2200 crore.
Amit Kumat, from Indore, Madhya Pradesh, took risks and began his career in the chemical industry, but his business failed within a year. He was left with a debt of Rs 6 crore. After persuading his family members, he invested Rs 15 lakh in a new venture. This new endeavour resulted in success and led to the establishment of Prataap Snacks Limited, now valued at Rs 2308 crore. He is the CEO and MD of the company.
Background
Born into a business family in Indore, Amit Kumat went to America for higher studies. There, he developed the habit of munching on chips, as papad was not readily available. After completing his studies, he returned to India with an ambition to establish a business of his own.
Coming back to India
After returning to the country, Amit was unable to find a job. He began helping his father in the clothing business and eventually decided to start his own venture. He launched a business in the chemical industry, which initially did well but later suffered losses. He ended up buried under significant debt.
Receiving support
Amit Kumat sought help from his brother, Apoorva Kumat, and his friend, Arvind Mehta, convincing them to invest Rs 15 lakh in a snacks business. They agreed, and the three of them began making and selling cheese balls in Indore and other cities. Soon, they set up a chips manufacturing unit in Indore and launched a product called ‘Chulbule’ to complete with the popular brand Kurkure.
Company’s success
After some time, Sequioa Capital invested in his business, marking a turning point in his life. Amit Kumat expanded the business and introduced products like potato rings, chips, and various other snacks. Today, the company’s products are sold both domestically and internationally. The market value of the company has reached more than Rs 2200 crore.
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