Mysuru, April 17, 2018: Motilal Oswal Private Equity, through its third private equity fund “India Business Excellence Fund – III”, has invested an undisclosed sum for a minority stake in N Ranga Rao and Sons Private Limited (“NRRS”).
NRRS is a Mysuru based company, engaged in the business of manufacturing and marketing of Agarbathies, puja products, lifestyle and functional air-care products.
Arjun Ranga, Managing Director of NRRS said on Wednesday, “As a 70-year-old family business into the third generation, we are deep rooted in our values and tradition. We strongly believe in collaborative and ethical growth and in always delivering value for money to our customers. Building on our strengths in fragrance creation and distribution, we have now become a multi-product company by foraying into air care and puja products. In this natural progression, we are pleased to partner with MOPE to expand our product portfolio in air care and puja products”.
United News Of India
