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HomeInsightFunding Alert Harmony Organics Secures Rs 225 Cr From Piramal Alternatives

[Funding alert] Harmony Organics Secures Rs 225 Cr From Piramal Alternatives

Harmony Organics, a manufacturer of specialty chemicals, had secured Rs 225 crore from Piramal Alternatives, the Piramal Group's fund management division, in order to capitalise on expanding international prospects in the fragrance and flavour sector.

Harmony Organics, a manufacturer of specialty chemicals, had secured Rs 225 crore from Piramal Alternatives, the Piramal Group’s fund management division, in order to capitalise on expanding international prospects in the fragrance and flavour sector.

Read also – [Funding alert] Waree Energy Secures Rs 1000 Cr In Equity Funding From ValueQuest

The company plans to make strategic investments in building and expanding facilities at existing and new locations in the next quarters, as reported by YourStory.com

“The current funding is against the issuance of convertibles for the purpose to expand capacities and explore inorganic opportunities. This expansion will result in Harmony becoming one of the leading aroma chemical players in the country, ” he said.

Read also – [Funding alert] Disprz Secures $30 Mn In Series C Funding Round

“Through Piramal Alternatives, we aim to aid mid-market companies by providing flexible, bespoke, and value accretive capital, ” Kalpesh Kikani, CEO of Piramal Alternatives, said.

Read also – [Funding alert] Brick And Byte Secures INR 10 Cr Debt From Red Fort Capital

About Harmony Organics

Harmony Organics is a leading manufacturer of Aroma Chemicals for the Fragrant and Flavour Industries. Their flagship product, phenyl ethanol, has an established manufacturing capacity of 6,000 metric tonnes annually. The second-biggest producer of PEA worldwide and the largest in India is Harmony Organics.

Read also – [Funding alert] Monitra Healthcare Raises $500K In Pre-Series A Funding Round

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