Fruit juice player, Manpasand Beverages Ltd is planning to increase its production capacity to more than double in the next 12-18 months. The company will set up four new manufacturing plants having total production capacity of 2 lakh cases per day as against the current 1.7 lakh cases per day.

The new plants with 50,000 cases per day production capacity each will be set up at four different regions across India. The company's recent fund raising exercise of Rs 500 crore through QIP would be utilised for the expansion.

The land has been acquired and construction at the three sites has already started at 3 locations, each of which will be located at Sri City in Andhra Pradesh, Varanasi in UP and Vadodara in Gujarat. The location for the fourth plant is being explored in Eastern India, the compnay informed.

Dhirendra Singh, Chairman & Managing Director of the company, said, "The fruit juice market across India has a huge potential for growth and is still considerably untapped. To take advantage of this huge demand, we have embarked on an aggressive expansion journey to more than double our production capacity within the next two years. With the Rs. 500 crore raised through a QIP issue recently we are well placed to fully fund these four new plants. Also, as we are close to debt free, we can resort to debt funding as and when required in future."

The company plans to further introduce new brands besides Mango Sip and Fruits Up.

Manpasand continues to have strong reach in the semi-urban markets of Northern and Western parts regions. With new plants, the company plans to tap markets in the South, East and the North-Eastern parts of India.

"Once operational, these plants will not only add to our capacities and revenues, but will also generate employment for a few hundred persons in these locations," added Singh.

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