Red Fort Capital Provides 100 Million Funding to India’s Largest Nutmeg Processing Company: Revolutionizing the Nutmeg Industry
April 2023:Red Fort Capital, a leading NBFC based in India, has funded Kanjiravelil Traders Private Limited (KTPL) which is one of the largest nutmeg processing companies of India. The funds will help KTPL expand its procurement, operations, invest in machinery, and increase its market share.
KTPL and group companies have more than 50% market share in the nutmeg processing industry of India, producing and processing over 11,000 tons of high-quality nutmeg that are widely used in Indian cuisine, beverages and exported to various countries. They have multiple clients including Everest Agro Spices, Nestle, Irine Agro Spices, Olam Agro India Pvt Ltd. The company has a strong reputation for its sustainable and ethical business practices, and its commitment to innovation and product development.
“KTPL is an established leader in the nutmeg processing industry in India, and we are pleased to support their growth plans with this funding,” said Parry Singh, Chairman and CEO of Red Fort Capital. “We are confident that KTPL’s increased capacity and strategic focus on innovation will enable it to further strengthen its market leadership position in the nutmeg industry.”
“Red Fort Capital has amazed us with the 100 million INR disbursement within a record time of 8 days, timely disbursement holds such great value to us as an organization. With the speed capital provided by Red Fort Capital we will be able to capitalize on time-sensitive opportunities and grow further” said Jenny Varghese MD of Kanjiravelil Traders Private Limited.
Red Fort Capital is known for its strategic funding of promising companies across various sectors, including FMCG, warehousing, manufacturing, healthcare, technology, textiles, and real estate. The loan to KTPL is a significant investment in India’s nutmeg processing industry, which is expected to grow exponentially in the coming years.