Peepul Capital Advisors: Peepul Capital puts more money into frozen food maker

Private equity firm Peepul Capital LLC has made a follow-on investment in one of its portfolio firms, one person directly privy to the development told VCCircle. The Chennai-based PE firm has invested $4.3 million (Rs 30 crore) in Innovative Foods Ltd, which markets frozen food products under the Sumeru brand, the person mentioned above said. After the transaction, Peepul Capital will have a 99.26% stake in the company, the person added. In July 2017, Innovative Foods had raised Rs 20 crore from the same investor. It had also increased its stake in cookies maker Unibic Foods India [...]