Priya Food Plans Rs 10-Crore Issue

City-based Priya Food Products is planning a public issue of Rs 10 crore in the latter half of this year. The company proposes to double capacity at its manufacturing unit from the existing 40 tonne per day.

Priya has also recently introduced mechanised packaging for its products. G P Agarwal, chairman, Priya Food Products, said, "Value-for-money is what we want to give our customers". The company has invested Rs 3 crore in this venture.

Priya has an annual turnover of Rs 35 crore. "By 2001-2002 our turnover will increase to Rs 80 crore," said Agarwal. The company will be launching eight new brands soon with the first _ Real Gold _ set to hit the market in the last week of March. Currently, Priya offers 16 varieties of biscuits in different categories like sweet, semi-sweet, salted and crackers. Butter Bite, Nice-T, Marie, Orange Cream, Milkose, Coconut Crunch are some of its brands. The company also plans to expand its distributor network. Priya has a presence in West Bengal, Bihar, north eastern states and Karnataka and plans to foray into Andhra Pradesh and Tamil Nadu as well.

 

Priya already has several ad films for most of its existing varieties. The latest ad film centres around Butter Bite and features comedian, Paintal. Sumatra Ghosal of Equinox is the man behind the campaign. Priya has earmarked Rs 1.5 crore as its ad budget for the year.