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CORRECTED-India's Prabhat Dairy raises 1.4 bln rupees from PE investors
August 27, 2013 / 10:44 AM / in 4 years

CORRECTED-India's Prabhat Dairy raises 1.4 bln rupees from PE investors

(Corrects name of the company in the headline)

MUMBAI, Aug 27 (Reuters) - India’s Prabhat Dairy Pvt Ltd said on Tuesday it raised 1.4 billion rupees ($21.71 million) from India Agribusiness Fund, a private equity fund sponsored by Rabobank and France’s Proparco.

Prabhat, which supplies dairy-based food ingredients to multinationals and leading Indian food and beverage companies, will use the proceeds to set up a new manufacturing facility in the Mumbai suburbs, it said in a statement.

KPMG was the sole advisor to the deal, it added.

$1 = 64.4850 Indian rupees Reporting by Indulal PM; Editing by Sunil Nair

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