Shares of Kwality Ltd jumped as much as 6 per cent to hit intraday high of Rs 118.35 after the dairy company said that it has received funding commitment of Rs 520 crore from private equity firm KKR.
Delhi-based Kwality said the "proceeds shall be utilized to fund capex to further strengthen milk procurement infrastructure solely for high-margin value-added product categories including cheese, paneer, table butters, tetra-packs, flavoured milk and yoghurt among others".
The company plans to roll out a series of such products in the near future, it added.
Kwality Limited has six milk processing units in Uttar Pradesh, Haryana, Uttarakhand, and Rajasthan, has milk processing capacity of over 3.2 million litres per day.
Shares of Kwality Ltd ended 2.9 per cent higher at Rs 114.75.
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