BusinessWire India
Mumbai (Maharashtra) [India], October 30: Piramal Alternatives, the fund management division of the Piramal Group, today announced an investment of INR 150 Cr in Kumar Equipment (India) Private Limited ("KEIPL"), a manufacturer and turnkey solutions provider of commercial kitchen equipment. The investment, through Piramal Alternatives’ India Credit Opportunities Fund II ("PCF II"), will support KEIPL in expanding its manufacturing capabilities, deepening vertical integration and strengthening execution capabilities as it scales its presence across India.
This is the sixth investment from Piramal Alternatives’ PCF II, a sector-agnostic fund focused on high-growth mid-market companies. The first fund with a size of INR 2100 Cr is fully invested with 17 investments, of which 15 have been successfully exited.
Commenting on the investment, Kalpesh Kikani, CEO, Piramal Alternatives, said, “KEIPL has built a differentiated business through deep customer relationships, strong execution capabilities and a growing focus on in-house manufacturing. We look forward to partnering with Rajesh and Krishan as they scale the business, expand their national footprint and strengthen KEIPL’s position in India’s commercial kitchen equipment market.”
Rajesh Kumar and Krishan Kumar, Co-founders, Kumar Equipment (India) Private Limited, said, “Piramal Alternatives’ investment is an important milestone in KEIPL’s growth journey. It will help us expand our manufacturing capabilities, strengthen our product portfolio and serve customers more efficiently across India, while maintaining the quality and execution standards that have been central to our long-standing customer relationships.”
Piramal Alternatives provides flexible capital solutions to businesses across sectors, partnering with companies to support growth, transformation and long-term value creation. Its investment approach combines deep investment experience with a partnership-led focus on building and strengthening businesses.
Founded by first-generation entrepreneurs Rajesh Kumar and Krishan Kumar, KEIPL designs, manufactures and executes turnkey commercial kitchen systems for leading institutional and hospitality customers. The company has completed more than 2,500 projects across 22 states with manufacturing capacity in Rajasthan and Bengaluru and a pan-India sales presence.
As KEIPL enters its next phase of growth, the second generation of leadership is driving its strategic expansion. Akash Choudhary oversees factory operations and research and development (R&D), with a focus on product innovation, while Akash Singh leads business development, building the company's presence among leading corporate and hospitality customers.
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