IFC to invest $20 million in Future Consumer Enterprise

International Finance Corporation (IFC) will invest $20 million (Rs 134 crore) in Future Consumer Enterprise (FCEL) through equity linked instruments. For the said purpose, the Board has proposed to issue and allot equity linked securities to International Finance Corporation. This partnership not only brings long term financing capital but would also help the company in incorporating global best practices in Environment, Health & Safety.

The investment from IFC will aid the company in fueling its growth plans and further strengthening its balance sheet. The company had also recently secured an investment of $55 million from US-based Proterra Partners (previously known as Black River Asset Management) and the promoters of the company and this completes the current fund raising plan of $75 million.

Future Consumer Enterprise is an FMCG company that markets brands such as Tasty Treat, Nilgiris, Golden Harvest, Sunkist, Sangi’s Kitchen, Desi Atta Company, Kara, Swiss CareMate, Clean Mate, Think Skin, Fresh & Pure, among the others.