Nandu's Chicken, part of Rs 500 crore Nanda group, is looking at raising USD 10 million by early next fiscal to expand its operations and open more offline retail stores.
"We are looking at raising around USD 10 million in the next 6-8 months. We will use this fund to expand our operations to other states in south India and open retail stores. We will also use it for marketing and branding," Nandu's Chicken Founder Narendra Kumar Pasuparthy told PTI.
"The idea for this company came into being due to unavailability of quality chicken in India. While we started with only chicken, we will soon add other meat such as mutton, fish and sea food," he said.
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At present, there are 10 retail Nandu's Chicken outlets in Bangalore and the brand will soon expand operations in Karnataka, Tamil Nadu, Andhra Pradesh and Maharashtra.
Pasuparthy said Nandu's Chicken is leveraging the parent company's strength to become a leader in processed meat business.
Nanda Group currently has 16 farms, 10 hatcheries, three poultry feed mills and three processing plants spanning across India, the UAE and Oman.
The company has also tied up with farmers for growing birds across southern states to provide a quality farm- to-fork experience for consumers, he said.
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