Coconut Oil Manufacturing Unit Raising Funds In Kozhikode
About Business
It's a mill of coconut oil production with a capacity of 50,000 litres.
In 2023, the firm borrowed INR 7 crore from Canara Bank to finance this expansion. However, owing to some challenges, it failed to repay the interest on the loan, which turned into a Non-Performing Asset (NPA).
The bank has agreed to a one-time settlement of INR 5 crore.
So far, the company has invested INR 24 crore in the venture. The founders are now set to initiate operations at the mill and are making efforts to mobilize the requisite capital.
Clientele type
After commencing operations, the founders plan to target the entire Indian market and also expand into exports.
Premises
OWNED
Premise Size: 30000
Market Value (in INR): 0.00
It's company's owned premises.
Asking Price Includes
The terms and transaction details will be discussed with potential investors.
Asking Price
INR 10.00 Cr
Minimum ticket size
INR 7.00 Cr
Reason
The founder is seeking an investor to help clear outstanding dues and support starting the operations. A significant amount has already been invested, and they want to begin operations as soon as possible.
Keywords
Business Tags
₹10 to ₹200 Cr
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