Jagatjit Industries raises undisclosed funding from KKR

Indian-made foreign liquor (IMFL) firm Jagatjit Industries today said it has raised undisclosed amount from global investment firm KKR to support its ongoing restructuring efforts.
"Jagatjit Industries will use the proceeds to build the brand appeal of the company's liquor portfolio -- spanning whisky, rum, gin and vodka products across premium labels including Aristocrat -- streamline its portfolio, increase manufacturing capacity, strengthen the management team and expand its distribution reach," the company said in a statement.
Jagatjit Industries' Promoter and Chief Restructuring Officer Roshini Sanah Jaiswal said: "We will use these funds as growth capital to take the group to the next level. The funds will support Jagatjit Industries' restructuring and modernization efforts."

The company has strong presence in South India, especially in states like Andhra Pradesh and Kerala, in the East across Orissa, West Bengal and Jharkhand, and across India's North and North Eastern states.
The stock of Jagatjit Industries was trading 4.95 per cent higher at Rs 68.90 in the pre-close session on BSE.