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Piccadily Agro Industries announces Rs 1,000 crore investment for expansion
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Friday, 03 January, 2025, 13 : 00 PM [IST]
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Our Bureau, Mumbai
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Piccadily Agro Industries, producer of Indri single malt and Camikara rum, has announced plans to invest Rs 1,000 crore to expand its existing distillery and malt production facilities in Indri, Haryana.
This investment will also support the establishment of a new plant in Mahasamund, Chhattisgarh, and the development of it’s first international distillery at Portavadie, Scotland.
In September 2024, it secured Rs 262 crore through preferential allotment from prominent investors, with an additional Rs 50 crore contributed by the company’s promoters. The remaining funding will be arranged through a mix of internal resources and debt.
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