TVS Capital Funds has acquired 7.57% stake in Prabhat Dairy for Rs 85 crore. The fund house has made the investment at an attractive valuation commensurate with the industry players which are expected to yield good returns on exit.
Prabhat Dairy is an integrated milk and dairy products company in India catering to institutional as well as retail customers. It produces fresh, dry, frozen, cultured and fermented dairy products, including pasteurized milk, flavoured milk, sweetened condensed milk, ultra-pasteurised or ultra-high temperature (UHT) milk, yoghurt, dairy whitener, clarified butter (ghee), milk powder, ingredients for baby foods, lassi and chaas.
