Kwality to raise Rs 1,000 cr for expansion

Dairy firm Kwality Ltd is in talks with investors to raise up to Rs 1,000 crore for expansion activities in India and abroad.
The company is looking at various options to raise funds through debt or equity for its expansion, it said in a filing to the BSE.
"We are speaking to some funds or investors, but these discussions are in early stage and no negotiations have happened or proposal for investment has been received," the filing added.
In the annual general meeting in September last year, shareholders had given approval to raise funds through various instruments, including equity, to the extent of Rs 1,000 crore.

Meanwhile, the company said "there had been no discussion with Rabo Equity Advisors in recent months to offload stake".
The company has ultra-modern milk processing plants in Palwal, Saharanpur and Amritsar, fully equipped with hi-tech equipment to process 1.7 million litres of milk daily.

It also has 30 village level milk collection centres involving at least 35,000 farmers.
The Delhi-based dairy firm also has an office in Dubai and representative office in the Netherlands.
Shares of the company closed at Rs 33.85 apiece, up 7.12 per cent on the BSE today.