As per reports, in mattress and foam manufacturing company Kurlon, recently Motilal Oswal Private Equity Investment Advisors (MOPE) has made an investment of Rs 90 crore.
Motilal Oswal PE makes Rs 90 crore investment in Kurlon
However, the reports further highlighted the fact that the amount of 90 crore that has been invested by the MOPE will be utilized for increasing the capacities, extending the distribution network.
Meanwhile in an official statement, Kurlon said that from the time of its establishment in the Indian market that was done in 1992, the company certainly holds a strong pan-India sales and distribution network which is been supported by the main four centralized warehouses, also including 72 area sales offices, along with more than 160 special showrooms which has hired over 4,000 dealers and retailers who are successfully from a long time been selling the company quality products.
In the meantime, talking more about the current investment T Sudhakar Pai, Chairman and Managing Director said that the current partnership deal with Motilal Oswal Private Equity would certainly help the company to accomplish their main aim of getting its three-dimensional aim of emerging as the major and the fastest growing mattress and foam producer in the country.
Mr. Vishal Tulsyan, managing director and chief executive at Motilal Oswal Private Equity stated, “Kurlon is one of the most prominent, as well as the most endearing mattress brand and is poised to benefit from the changing consumption pattern of Indians, driven by increased brand awareness and higher spending capabilities.”