Air-conditioners maker Epack to raise Rs.160-Cr from ICICI Ventures

Noida-based Epack Durable Pvt. Ltd, a contract manufacturer of room air-conditioners (RACs), will raise INR 160 crore from funds managed by private equity firm ICICI Ventures. The firm plans to use the funds to expand its manufacturing capacity significantly. Epack manufactures RACs and small household appliances (SHAs) in Dehradun for Indian and multinational company brands, as an outsourced design manufacturer with in-house R&D (research and development) capabilities. It has an installed capacity of over 1 million RAC and 1 million SHA units.