Global alternative asset manager Carlyle Group has invested $22 million in private sector dairy company Tirumala Milk Products Pvt Ltd. The funds will be used for expanding its procurement network, processing capacity, entry into new markets and for the manufacture of new value added products.
Tirumala Dairy has presence in Andhra Pradesh, Karnataka and Tamil Nadu. It handles 7 lakh litres of milk per day in its packing stations and dairy plant, which is the single largest plant in Andhra Pradesh.
The investment will come from Carlyle Asia Growth Partners IV (CAGP IV), a $1.04 billion fund. This investment into Tirumala Milk reinforces the firm’s commitment to India as an attractive investment destination. Carlyle has already made five investments in India from the previous fund, Carlyle Asia Growth Partners III (CAGP III).
Real estate developer Omaxe Ltd said it launched ‘Naffhil Homes’, its first budget homes at Allahabad in Uttar Pradesh. To be constructed over an area of about 20 acres, this affordable housing project will be a part of around 1,535 acre ‘Omaxe Waterfront Hi-Tech City’ project, the company said in a regulatory filing.
Naffhil homes will have estimated revenue of over Rs150 crore and will be ready for occupancy in about 30 months, it added.
On Thursday, Omaxe ended 0.8% up at Rs94 on the Bombay Stock Exchange, while the benchmark Sensex closed 1.7% up at 17,022 points.
ITC-Welcomgroup on Thursday said it signed an exclusive agreement with Starwood Hotels and Resorts to bring Starwood's premium brand, 'Luxury Collection,' in India.
Under the new franchise agreement, the seven hotels that will be part of the new brand, ITC-Luxury Collection, are ITC Maurya in Delhi, ITC Maratha in Mumbai, ITC Sonar in Kolkata, ITC Grand Central in Mumbai, ITC Windsor in Bangalore, ITC Kakatiya in Hyderabad and ITC Mughal in Agra, it said in a release.