The group is an established name in the food production industry and is seeking funds in the form of debt to help them fulfil working capital requirements and the expansion of their manufacturing and storage units.
The group is an Indian producer of food products and includes three different individual companies. Due to the suitable conditions the state experiences for producing Basmati rice, the manufacturing plants are situated in Madhya Pradesh and have an annual production capacity of 43,200 MT.
The finest quality rice is packed after proper cleaning, grading, and sorting. The quality control department ensures that every grain meets the requisite specifications after which they undergo an aging process under controlled conditions for approximately one year.
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The group is seeking to raise debt worth USD 15 million in the form of an external commercial borrowing (ECB). The requisite funding shall be used for working capital, the addition of a new unit, and increasing storage capacity.
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