Hotline: 1800 102 2007
X
Loading
Search Business Opportunities
Dec, 15 2014

Innovative Foods to raise Rs 50-60 crore funding

Innovative Foods which is owned by India Equity Partners (IEP) may also look for additional equity or raise the funding through another investor through a share sale, said a top official.

Innovative Foods Ltd (IFL), which owns the Sumeru brand is planning to raise Rs 50-60 crore, according to a PTI report.

The group which is known for making frozen fries, sausages, paranthas and prawns will use the fund for brand development; retail expansion and technology upgrade to rapidly grow the frozen foods arm.

Innovative Foods which is owned by India Equity Partners (IEP) may also look for additional equity or raise the funding through another investor through a share sale, said a top official.

The brand supplies the frozen food to restaurant chains like Domino's, Dunkin Donuts, Cafe Coffee Day, McDonald's and Subway.

"The business plan is with IEP and it is being considered whether to bring in additional equity or to raise the money through another investor through a share sale," Kannan Sitaram, CEO, IFL and Operating Partner at IEP told PTI.

Sumeru is the third largest frozen foods brand in the country after McCain and Godrej Tyson Foods' Yummiez.
 

Comment
Related opportunities
  • Cambridge Montessori Junior is a brand of Jalsa Ventures Private..
    Locations looking for expansion New Delhi
    Establishment year 2017
    Franchising Launch Date 2017
    Investment size Rs. 2lac - 5lac
    Space required 1500 - 4000 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater North West Delhi New Delhi
  • About:Grandeur offers the discerning customer a wide range of modular..
    Locations looking for expansion Maharashtra
    Establishment year 1998
    Franchising Launch Date 2015
    Investment size Rs. 1 Cr. - 2 Cr
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai City Maharashtra
  • About:   Selfie Unisex Salon is a dream that conceived in 2012..
    Locations looking for expansion Delhi
    Establishment year 2014
    Franchising Launch Date 2017
    Investment size Rs. 30lac - 50lac
    Space required 0
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Activity Centres, Day Care & Creches
    About:To tap the lucrative market of 'kids edutainment', "Play Streat™..
    Locations looking for expansion Telangana
    Establishment year 2016
    Franchising Launch Date 2016
    Investment size Rs. 30lac - 50lac
    Space required 3500 - 7000 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Hyderabad Telangana
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities