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Harley Food Products plans to raise ₹300 -crore private equity this financial year. The firm, which started operations in September last, is looking to enter into strategic partnerships with manufacturing plants. The firm is into branded snack food business.
Harley Foods plans to set up two plants in Telangana and Andhra Pradesh in this financial year.
“We are doing monthly sales of ₹7.5 crore, including ₹2 crore from the South. We are targeting to achieve a turnover of ₹100 crore in the financial year 2016-17,” Soumiik Mitraa, Chairman and Managing Director of Harley Foods, said.
Addressing a press conference here on Thursday, Mitraa said the branded snack food market is pegged at ₹1,000 crore. “We have entered the rural market with lower denomination (₹5) packets. We are now expanding to offer packs of ₹10, ₹15, ₹30 and ₹35 with an eye on the urban markets,” he said.
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