Simpolo raises $66 million from Motilal Oswal and India SME-managed fund

Simpolo group said that it would aim to use the funds to increase the market share and grow penetration in the market, both domestic and international

Simpolo Group, India's largest premium tile manufacturer, has raised $66 million from the India Business Excellence Fund-IV. The fund is managed by Motilal Oswal Finvest Ltd, MO Alternate Investment Advisors Pvt Ltd (MOPE) and India SME Investments - Fund I. 

 
The group said that it will aim to use the funds to increase the market share and grow penetration in the market, both domestic and international. It will also use the funds to expand the current production capacity of tiles and sanitaryware and improve logistics.
 

"MOPE's experience to create leaders in the manufacturing sector and