The fund is part of P&G India’s ‘vGROW’ programme, initiated six years ago. To date, investments totalling ₹1,800 crore have been committed via the programme.
P&G Supply Chain Catalyst Fund will provide an opportunity to startups and innovators to collaborate with Procter & Gamble (P&G) India on customising business solutions, accelerating its journey towards Supply 3.0 initiatives, said a statement from the company.
In an interview, L V Vaidyanathan, MD and CEO, P&G India said investments will “continue to come” to India as favourable demographics drive demand for its products
The export-focused factory builds on top of P&G India’s existing manufacturing footprint of eight plants across the country and expands the existing presence in Gujarat. P&G already operates a manufacturing plant in Sanand since 2015.
Shares of Shriram Finance jumped 7% to Rs 1,500 in Monday s trade, following reports of a large block deal. TPG has reportedly sold its entire stake in the firm, but the buyers are yet to be confirmed. During Q4 FY23, Shriram Finance recorded a 20% increase in its net profit at Rs 1,308 crore backed by an over 50% surge in interest income. The consensus recommendation from 27 analysts for the stock is a buy, with an average target price of Rs 1,571, reflecting an upside potential of 7%.