Mumbai: Motilal Oswal Private Equity-managed India Business Excellence Fund has invested Rs.110 crore in Bengaluru-based Dairy Classic Ice Creams Pvt. Ltd, which is engaged in the business of manufacturing and selling of ice creams and frozen desserts, for a minority stake, as per a press release. The company has a centralized, state-of-the-art manufacturing facility near Bengaluru and offers a complete product basket of ice creams and frozen desserts. The Mumbai-based alternate asset manager MOPE has raised two growth capital funds [India Business Excellence Fund-I (IBEF-I) and India Business Excellence Fund-II. While, it had raised its maiden fund IBEF-I of $125 million in 2007-08 and another $155 million fund it raised three years ago.

Source: Mint October 24, 2016 07:18 UTC