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Indian hygiene product manufacturer will use proceeds for market expansion in India and internationally
October 14, 2024
By: Tara Olivo
Associate Editor at Nonwovens Industry
According to a report in The Economic Times, Millennium Babycares has completed a private placement round of Rs 122 crore from Bharat Value Fund (BVF), which is managed by Pantomath Capital Management Pvt Ltd, offering a significant minority stake. BVF is the second Category II Alternative Investment Fund (AIF) launched by the India Inflection Opportunity Trust (IIOT) in August 2024 and is managed by Madhu Lunawat with a targeted corpus of Rs 2,000 crores. Millennium will use the proceeds for market expansion in India and internationally. Founded in 2015, Millennium specializes in baby care, feminine care and adult care products. The company is a leading contract manufacturer and also sells baby diapers under the Bumtum brand, adult incontinence products under the Elduro brand and feminine care products under the Freeme brand. The company claims to be the first domestic manufacturer in India to establish Japanese production lines. These lines allow for the manufacture of high-quality, ultra-premium products that serve various segments in both Indian and international markets. The company produces 4 million baby diapers, 500,000 sanitary napkins, and 100,000 adult diapers daily.
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