Loan Amount: ₹36 million
Use of Capital: Purchasing Raw Material
Location: Pune, Maharashtra
Red Fort Capital has funded a sum of ₹36 million as a working capital loan to Olive industries based in Pune, Maharashtra. The funding will help Olive industries to purchase raw material for completion of work orders.
Established in 1942, Olive Group of Industries has transformed from a locally based business into a sophisticated growth-oriented organization that supplies to key markets to produce customized manufacturing solutions to meet the specific needs of end customers.
Olive Industries specializes in sheet metal operations & is a supplier of subcontracted sheet metal works in the Auto, Agriculture tools & food industries. They hold expertise in manufacturing press components, welding & fabrication of CNC components for the auto industry. The agriculture industry consists majorly of manufacturing & supplying Agri-products like greenhouse & polyhouse gutters, household fabrication & erection items, and farming tools, whereas the food industry includes manufacturing wheat flour, rice flour, gram flour, etc.
With Red Fort Capital’s financial assistance, Olive Industries’ working capital needs have been met. As a result, the company plans to complete the work orders from numerous clients and project a 50% growth in monthly revenue. Moreover, this loan will help the company expand its market share all over Maharashtra and establish itself as a sheet metal expert for multiple industries.