TVS Capital, IFC invest Rs 124 crore in Dunar Food

NEW DELHI: Private equity fund TVS Capital and International Finance Corp on Tuesday said they have invested Rs 124 crore in Dunar Foods, a Haryana-based basmati rice processing firm. Dunar Foods exports basmati rice to Middle East, Europe and the US.

TVS Capital has invested Rs 50 crore in the venture, with IFC infusing the remaining investments.

Dunar Foods MD Surender Gupta said in a statement: "The investment by the two leading private equity funds demonstrates our robust business model."" TVS Capital MD Gopal Srinivasan said Dunar is the 10 ^thinvestment by the fund.