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— Ramesh Sharma

Mr B.P. Agarwal, Chairman and Managing Director, Surya Foods and Agro (right), with actor and brand ambassador Vivek Oberoi at the launch of Fresh Fizzy in the Capital on Friday.

Our Bureau

New Delhi, Oct. 12 Surya Foods and Agro Ltd, popular for its biscuit brand PriyaGold, plans to go public early next year to raise Rs 150 crore to fund expansion.

“We will make a public offer some time early next year. The money will be used to fund part of our ongoing expansions,” said Mr B.P. Agarwal, CMD, Surya Foods and Agro Ltd and Surya Fresh Foods Ltd.

Surya Foods has also forayed into the Rs 200-crore aerated fruit drinks segment that is dominated by Parle’s Appy, with the launch of Fresh Fizzy. Launched in two flavours, apple and orange, Fresh Fizzy will be available in three pack sizes — one litre, 500 ml and 250 ml, priced at Rs 45, Rs 25 and Rs 15 respectively.

The company which already has a juice brand — Fresh Gold — has invested nearly Rs 15 crore in its unit in Greater Noida for building a capacity of around one lakh litres per day for the new fizzy beverage.

The company already manufactures Fresh Gold in the Noida facility. Mr Agarwal said that the company would invest a total of Rs 40 crore in its beverage business in the current year, which would also include hiking its juice production capacity from the current 300 tonnes to 400 tonnes per day.

The company is also looking at utilising the funds raised from the IPO to fund its upcoming unit in South India, preferably in Bangalore, for ‘Fresh Fizzy’, to make it available in the southern market as well.

Surya Foods is also in the process of setting up a unit in Haridwar for its foray into chocolates, with an investment of Rs 100 crore. The facility will have an estimated capacity of 25-30 tonnes and will be operational by March 2008.

On the marketing front, Mr Agarwal said that the company has signed on actor Vivek Oberoi as the face of Fresh Fizzy and it would invest around Rs 8-Rs 10 crore in promoting the product through a new television and print campaign soon. It will also roll out special promotional offers at the organised retail chains.

Surya Foods, backed by its expansion plans, is aiming to clock a turnover of Rs 450 crore by next fiscal, with the current turnover being Rs 380 crore.

More Stories on : Promotions & Offers | Beverages

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