The investment is focused on market penetration, new product development, research and innovation including new technology, brand promotion and expansion, the company said in a statement.
Pringle Homeware, which was established in 2005, has a pan India presence and plans to set up a manufacturing facility in Kundli, Haryana.
Pringle Homeware Director Ajay Singhania said: "This investment will enhance our operations and help expand the brand's footprint across India. By 2020, we should be known as ingenuous kitchen solutions provider through our smart cooking appliances."
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