(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