Dunar gets funding from TVS Capital

TVS Capital has infused Rs.50 crore into Dunar Foods, a leading basmati rice processing company. The money is invested through its first fund, TVS Shriram Growth Fund IA. The Fund has put in Rs.50 crore out of a total investment of Rs.124 crore, along with a co-investor.

Dunar Foods is located at Karnal (Haryana) and has grown in the last 10 years in the domestic and export markets. The company has emerged as one of the top ten players in the industry under the leadership of Surender Gupta, a second-generation entrepreneur. According to a release, the company uses state-of-the-art processing plants and contemporary silos. “It exports finest quality basmati rice to the Middle East, Europe and the U.S.,” the release adds. It offers a range of basmati rice under “Dunar” brand within and outside India.

“The investment by the two leading private equity funds demonstrates the robust business model of Dunar Foods and its competitive edge in the basmati rice business,” the release quotes Surender Gupta, Managing Director of Dunar Foods, as saying. “We believe in the Dunar's growth potential because of the global branded rice business and the opportunity to scale the Indian retail business. Dunar is the 10th investment from the Fund, which brings us close to the completion of investing from Fund IA,” the release quotes Gopal Srinivasan, Managing Director of TVS Capital, as saying.

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Printable version | May 16, 2021 6:34:18 PM |

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