Fresca Juices is looking to raise Rs 100 crore by the end of this calendar year as it steps on the pedal to expand operations and increase turnover by threefold to Rs 300 crore in two years.
“We are looking at raising Rs 100 crore by end of this year to fund expansion. A lot of private equity investors have approached us for investment. We will close funding by end of this year,” MD, Fresca Juices, Akhil Gupta was quoted by PTI as saying.
According to a PTI report: On growth targets, he said: “We are targeting Rs 250-300 crore turnover by fiscal 2019. We are looking at expanding our operation pan-India in the next two-three years as we set up our plants in different parts of the country.”
The company is expected to report turnover of around Rs 100 crore this fiscal.
According to PTI. Gupta said Fresca Juices will also grow distribution reach from 50,000 outlets to 1,25,000 outlets by end of 2017-18 and plans to enter new states in India and export to a few countries. Its products at present are available in Delhi-NCR, Haryana, Punjab, Uttar Pradesh and Rajasthan.
“We are looking at expanding to Madhya Pradesh and Gujarat this year. We are doing some scattered exports to the UK and Canada. We are also exploring new international markets like Australia and Mauritius,” he was quoted by PTI as saying.
The company said it is looking at adding two manufacturing plants in west and south India in two years. It has a plant near Sonipat in Haryana.
Fresca Juices is also looking at expanding product range by entering packaged drinking water, jam and ketchups.