Processed food company Nilon’s has forayed into the beverages segment. The Pune-based company has applied for a Production Linked Incentive (PLI) scheme to the ministry of food processing industries for setting up a new plant for this business. The company will look at expanding and setting up a greenfield plant if they get the incentive.
Dipak Sanghavi, managing director of Nilon’s, says many companies have applied for a Rs 10,900 crore scheme. He was hopeful of making it to the final list that is to be approved by the government. Nilon’s is up against a large number of global food companies but Sanghavi thinks they have a chance of making it.
Around 275 companies are reported to have expressed interest to avail benefits under the scheme. The approvals are expected by the second week of August 2021.
Nilon’s Enterprises is a Rs 450 crore turnover company and located in Jalgaon, Maharashtra with a corporate HQ in Pune. The company has received private equity funding of` 90 crore from Banyan Tree Growth Capital.
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.
Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.