 "Kishore Biyani")
IFC, a part of World Bank Group, will invest up to $20 million (Rs 134 crore) in Kishore Biyani's Future Consumer Enterprises through equity-linked instruments.
The investment from IFC will aid the company in fueling its growth plans and further strengthening its balance sheet, the company said.
"This partnership not only brings long-term financing capital but would also help the company in incorporating global best practices in environment, health & safety," the company said.
The company had recently secured an investment of $55 million from US-based Proterra Partners (previously known as Black River Asset Management) and the promoters of the company and this completes the current fund raising plan of $75 million.
IFC and Proterra Partners join other marquee institutional investors such as Brussels-based Verlinvest, Singapore-based Arisaig Partners who have invested in the company.
Future Consumer Enterprise is an FMCG company that markets brands such as Tasty Treat, Nilgiris, Golden Harvest, Sunkist, Sangi’s Kitchen, Desi Atta Company, Kara, Swiss CareMate, Clean Mate, Think Skin, Fresh & Pure, among the others.
Recently, Future Consumer said it was looking to monetise in each of the next five years at least one investment in the Kishore Biyani-led Future Group firms to realise Rs 10,000 crore.
