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Prabhat Dairy Raises Rs 140 Cr From PE Investors

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India's Prabhat Dairy said on Tuesday, 27 August, it raised Rs 140 crore 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.