India

Keventer raises $25m to fund expansion

By RJ Whitehead

- Last updated on GMT

Keventer raises $25m to fund expansion

Related tags: Investment, Management

Kolkata-based dairy, fruit and grocery major Keventer Agro has raised US$25m in capital from Indian private equity firm Mandala Capital to fund its expansion in agro-food processing in eastern India. 

With this fresh infusion of capital, we intend to invest about US$100m into our dairy business in West Bengal and grow our food processing business exponentially—all towards our endeavour of turning into a US$500m company by the year 2022​,” said Mayank Jalan, who was recently named chairman and managing director of the company.

Jalan will also serve as chairman of Metro Dairy, which Keventer recently took control of after the West Bengal government divested its stake in the tripartite joint-venture. 

Mahendra Kumar Jalan, Keventer’s founder will continue to guide the company’s strategic direction as its chairman emeritus. 

We have charted out a robust growth plan for each of our businesses, be it dairy, bananas or frozen foods​,” Mayank Jalan said.

Related topics: Business, Industry growth, South Asia

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