Private Equity PE-VC Fund Investments
Fruits & vegetables seller KPN Farm Fresh raises addl Rs.637-Cr from Westbridge Capital
Source Mint (opens in a new tab)
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.
Company website ↗ (opens in a new tab)
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.