Piccadily Agro's Bold Expansion: From India to Scotland

Piccadily Agro Industries Limited plans a Rs 1,000 crore investment to expand its facilities in India and open a new distillery in Scotland. The initiative aims to boost its presence in the premium spirits market. Funding is raised through various channels, including internal accruals and debt.

Piccadily Agro Industries Limited announced a significant investment of Rs 1,000 crore to expand its existing alcohol production facilities in India and establish a distillery in Scotland. This strategic move aims to strengthen the company's position in the premium spirits market globally.

The expansion includes enhancing the distillery and malt facilities at Indri, Haryana, and setting up a new site at Mahasamund, Chhattisgarh. Furthermore, Piccadily will inaugurate its first international distillery at Portavadie, Scotland, marking its entry into the global arena.

With new investments sourced from preferential allotment and promoter funds, the company plans to increase its production capacity significantly. The expansion is expected to reshape the premium Indian alco-bev market, highlighting Piccadily as a key player on the international stage.

(With inputs from agencies.)