Kwality on Wednesday said KKR India, the Indian subsidiary of global private equity firm KKR and Co, has committed to invest up to ₹520 crore in the company through structured finance. The dairy company will use the proceeds from KKR India’s investment to fund its expansion plans and for part-repayment of debt, it said in a notice to the stock exchanges. The company plans to strengthen milk procurement infrastructure for its high-margin products like cheese, paneer, table butter, tetra packs, and flavoured milk and yoghurt. The company is working to shift its model to business-to-consumer from business-to-business. Shares of Kwality were up 3 per cent at ₹114.60 on the BSE.

Patel Integrated Logistics has informed the exchanges that India Ratings & Research Pvt Ltd (India Ratings), a Fitch group company, has upgraded the credit rating of the company’s fund-based borrowings and finance lease to ‘IND BBB’ (outlook positive) from ‘IND BBB-’ (outlook stable). India Ratings has also upgraded its rating for the company’s non-fund-based borrowings to ‘IND A3+’ (outlook positive) from ‘IND A3’ (outlook stable). Besides, the rating major has affirmed the credit rating ‘IND tA-’ (positive) for its fixed deposit programme. Shares of Patel Integrated Logistics edged down 2.98 per cent at ₹114.05 on the BSE.

RPP Infra Projects on Wednesday informed the exchanges that its wholly-owned subsidiary in Sri Lanka bagged an order worth $10.36 million. The order, given by the High Commission of India in Colombo, entails construction and completion of the Cultural Centre at Jaffna, capital city of the Northern Province of Sri Lanka. The stock surged 4.32 per cent at ₹179.80 on the BSE.

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