Red Fort Capital, a non-banking financial company (NBFC), has funded Kanjiravelil Traders Private Limited (KTPL), a nutmeg processing corporation, with Rs 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 claims to have a presence in the nutmeg processing industry in India, with over 50 per cent market share, especially in Kerala.
The company reportedly produces and processes over 11,000 tons of high-quality nutmeg that are used in Indian cuisine and beverages and exported to various countries. Some of their clients include Everest Agro Spices, Nestle, Irine Agro Spices and Olam Agro India Pvt Ltd.
"We are delighted to support KTPL's growth plans with this loan," said Parry Singh, chairman and chief executive officer (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," Singh added.
"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," observed Jenny Varghese, managing director of Kanjiravelil Traders Private Limited.
Previously, Red Fort Capital Finance 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.