Live
- BJP MP candidate Bharat Prasad visited the student who tried to commit suicide
- PM’s popularity in the fast lane: Autos with 'Har Dil Mein Modi' slogan spotted across Delhi
- Delhi-based political parties are like East India Company: Sukhbir Badal
- Golf: Diksha moves into Top-20 at South African Women’s Open
- KCR lashes out against BJP and Congress for destroying Telangana
- Dairy Science students visited the Milk cooling plant
- Moody feels Pant ahead in keepers’ race for T20 WC squad; Srikkanth picks Rahul over Samson as reserve keeper
- Thanking voters for extending 'unparalleled support' to NDA, PM Modi says second phase 'too good'
- Natural Relief for Menstrual Cramps: Beetroot Juice Recipe
- Asha Worker died in a road accident
Harley Foods to raise up to 300 crore from PE firms
Surat-based snack food company, Harley Food Products (Harley Foods), is in active talks with a few private equity firms and strategic investors, including from Hyderabad, to raise anywhere between Rs 200 crore and Rs 300 crore within this financial year, said its Chairman and Managing Director Soumiik Mitraa.
Hyderabad: Surat-based snack food company, Harley Food Products (Harley Foods), is in active talks with a few private equity firms and strategic investors, including from Hyderabad, to raise anywhere between Rs 200 crore and Rs 300 crore within this financial year, said its Chairman and Managing Director Soumiik Mitraa.
“The proceeds from the fundraising will be utilised to ramp up brand-building efforts, develop new products and expand operations to newer markets,” he told The Hans India. Founded in September 2015, Harley Foods currently has presence in 14 States, including Telangana and Andhra Pradesh. It has manufacturing tie-ups with two players in Hyderabad, which cater to the south Indian market.
“The branded snack food market in India is pegged at Rs 15,000 crore, of which the two Telugu States account for Rs 1,000 crore. Andhra Pradesh and Telangana are very important markets for us and we look forward to having more local manufacturing tie-ups here,” Mitraa said, adding that the company was expected to complete its pan-India expansion by the end of the 2017 calendar.
Stating that potato chips production is estimated to be 50,000 tonne a year valued at Rs 2,500 crore, he said a large part of the unorganised market, too, was gradually shifting towards namkeen products. “We will be introducing confectionary products, including jelly candy, toffee, hard-boil candies and centre-filled lollipop, besides traditional Indian sweets pretty soon,” Mitraa said.
