CESC Ventures picks 8.49% stake in tech firm
The deal was made to support the group's FMCG businessthat sells Too Yum brand snacks.
CESC Ventures said Peel-Works is a technology-drivendistribution company which supplies goods - food, grocery andconsumer products - to retailers and wholesalers where ordersare collected through a software application.
The company said this is an emerging, early-stagegrowth business having synergy with FMCG and retail business.
CESC Ventures will acquire 4,134 CompulsorilyConvertible Preference Shares of Peel-Works at a totalconsideration amounting to Rs 20.99 crore.The group was aiming at a Rs 10,000 crore revenue fromFMCG business in the next three to four years, the company hadsaid earlier. BSMNN NN
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