PE-VC Fund Investments
Fruits & vegetables seller KPN Farm Fresh raises addl Rs.637-Cr from Westbridge Capital
Private Equity firm Westbridge Capital has invested over INR 600 crore in a fresh funding round in Chennai-based Kovai Pazhamudhir Nilayam (KPN) Farm Fresh. WestBridge already owns 70% of the company.KPN Fresh runs a chain of outlets across cities in Tamil Nadu, selling f ruits and vegetables, besides groceries and daily necessities.The new funds will be used by the firm to accelerate expansion, enhance omnichannel strategy, and deepen presence in existing markets.
In Mar 2023, WestBridge Capital acquired a 70% stake in Kovai Pazhamudir Nilayam for USD 66 M.For FY24, Kovai Pazhamudir Nilayam had reported about INR 382 Cr in Operating Income and about INR 34 Cr in Net Loss.
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