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Candytoy Corporate, a leading manufacturer of plastic promotional toys and confectionery, has said it will invest Rs 100 crore as part of the expansion of its manufacturing capacity.
It will set up three new manufacturing facilities in Indore, Madhya Pradesh, spread over a total area of 500,000 sq ft, which will significantly enhance the company's production capacity.
Besides, it will also generate additional employment opportunities for nearly 1,000 people in the region, the Indore-based company said in a statement.
"We plan to make Indore the global hub for Candytoy manufacturing. We have earmarked an investment of Rs 100 crore to further strengthen our manufacturing base, for three new facilities, all in Indore," said its Director Gaurav Mirchandani.
Last November, Candytoy Corporate had secured an investment of Rs 110 crore in Series A round of funding.
It is the leading manufacturer of candy toys, plastic promotional toys and confectionery products. Candytoy exports to Europe, the US, African countries, Turkey, South Africa, Saudi Arabia, Oman, Kuwait, and the UAE, among others.
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