Mumbai, April 13th, 2023: – Red Fort Capital, a leading non-banking financial company (NBFC) in India, has funded Kanjiravelil Traders Private Limited (KTPL), one of India’s largest nutmeg processing companies, with 100 million. The investment will help KTPL expand its operations, increase its market share, and invest in machinery to produce high-quality nutmeg for the domestic and international markets.
KTPL has a strong presence in the nutmeg processing industry in India, with over 50% market share, especially in Kerala. The company produces and processes over 11,000 tons of high-quality nutmeg that are widely used in Indian cuisine, beverages, and exported to various countries. Some of their clients include Everest Agro Spices, Nestle, Irine Agro Spices, and Olam Agro India Pvt Ltd. KTPL has a strong reputation for sustainable and ethical business practices and its commitment to innovation and product development.
“We are delighted to support KTPL’s growth plans with this loan,” said Parry Singh, Chairman and CEO of Red Fort Capital. “KTPL’s increased capacity and strategic focus on innovation will enable it to further strengthen its market leadership position in the nutmeg industry. As a leading NBFC in India, we are committed to supporting promising companies like KTPL across various sectors, including FMCG, warehousing, manufacturing, healthcare, technology, textiles, and real estate.”
Red Fort Capital is known for its strategic funding in promising companies across various sectors, and this loan to KTPL is a significant investment in India’s nutmeg processing industry, which is expected to grow exponentially in the coming years.
Jenny Varghese, MD of Kanjiravelil Traders Private Limited, said, “Red Fort Capital has amazed us with the disbursement within a record time of 8 days. Timely disbursement holds such great value to us as an organization. With the speed capital provided by Red Fort Capital, we will be able to capitalize on time-sensitive opportunities and grow further.”
Red Fort Capital Finance has achieved significant milestones in the past. It has received Rs 200 million in capital from SBI, financed a publicly listed company, and received investment-grade ratings from Care Ratings Limited in 2022 and CRISIL in 2019.