Ahmedabad-based Arvind group of companies, which markets Bac Free brand of packaged water is foraying into food business.
The company plans to start a chain of 'gol gappa' outlets with an initial investment of Rs 6 crore (Rs 60 million).
The chain 'NRI Panipuri' will have around 500 small franchisee outlets in the city over the next one year. After Ahmedabad, the group will enter centres like Vadodara, Rajkot, Mehsana and Bhavnagar.
The company will fund the project through its internal accruals. The promoters will float a separate company Sindhwai Food Products Ltd. for the project.
"We want to provide hygienic food products and will start around 500 outlet across the city," said Rajnikant Patel, promoter, Arvind group of industries.
The group is also in the process of developing an automatic vending machine for 'gol gappas', which will come up at city malls.