TVS Capital invests Rs 50 cr in Dunar Foods

Chennai-based TVS Capital has announced an investment of Rs 50 crore in Dunar Foods, a basmati rice processing company in Karnal, Haryana, from its TVS Shriram Growth Fund 1A.

This comes as the firm’s 10th investment from the Fund 1A, a Rs 600 crore domestic rupee fund managed by TVS Capital, and close to the completion of investing from the Fund.

Dunar Foods, with revenues of Rs 1,000 crore and presence in both Indian and exports markets such as West Asia, Europe and the US, is expected to use the fund for expansion. It has a total production capacity of 50 mt/hr which it plans to double in the next 3 years.

 

The TVS Shriram Growth Fund has been targeting investments across consumer consumption and business services sectors, such as food and agriculture, retail, healthcare delivery, education, and hospitality, a release said.