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Keventer Agro to raise Rs 700 cr

Monday, 14 Oct 2019
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Kolkata-based Keventer Agro has begun talks for a fresh round of funding. The company is eyeing USD 100 million (or Rs 700 crore) for its expansion plans in dairy and banana plantations.

While talks are at a preliminary stage, it may lead to the exit of Mandala Capital, its current investor, paving the way for a new strategic partner.

Keventer Agro, which closed FY19 with a turnover of Rs 870 crore, has invested nearly Rs 200 crore in the last one year to expand its milk and banana businesses in eastern and northern India. The company is looking to touch Rs 7,000 crore in the next eight years on the back of categories such as dairy and food processing.

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