by Harmony Organics, a leading manufacturer of specialty chemicals, has secured Rs 225 crore in funding from Piramal Alternatives. The funding will be used to expand Harmony Organics’ production capacity and to invest in new product development.
Harmony Organics is a leading manufacturer of specialty chemicals for the fragrance, flavor, and personal care industries. The company’s products are used in a wide range of applications, including perfumes, cosmetics, detergents, and food additives.
Piramal Alternatives is a private equity fund managed by Piramal Enterprises. The fund invests in growth-oriented companies in the healthcare, financial services, and consumer sectors.
The funding from Piramal Alternatives will help Harmony Organics to expand its production capacity and to invest in new product development. The company plans to use the funds to build a new manufacturing plant in India and to develop new products for the fragrance, flavor, and personal care industries.
“We are excited to partner with Piramal Alternatives to support our growth plans,” said Sandeep Mehta, Managing Director and CEO of Harmony Organics. “The funding will help us to expand our production capacity and to invest in new product development. We are confident that this will enable us to meet the growing demand for our products in the global market.”
“We are impressed by Harmony Organics’ strong track record of growth and its leadership position in the specialty chemicals market,” said Kalpesh Kikani, CEO of Piramal Alternatives. “We believe that the company is well-positioned to capitalize on the growing demand for specialty chemicals in the global market.”
The funding from Piramal Alternatives is a significant development for Harmony Organics. The funding will help the company to expand its production capacity and to invest in new product development. This will enable Harmony Organics to meet the growing demand for its products in the global market.
