Tanvi Foods Pvt Limited, a Hyderabad based corn product manufacturing company has taken a giant leap into the retail market after being listed in the Bombay Stock Exchange (BSE) followed by the release of an initial public offer (IPO) which is predicted to bring in a good profit of 6.6 crores on their shares.
A senior executive of the company that has just gone public says that there are great things in store for them with this financial gamble that they’ve boldly participated in. The profits received from their shares is to be utilized by them to set up a new manufacturing plant in the brand new mega food park that will be coming up in Andhra Pradesh worth 800 crores. The company specializes in making varieties of corn infused products such as corn samosas, corn patties, corn spring rolls and many such items and is backed with high-quality standards because of their storage brand, Frozen Kings.
The company has a fully functioning plant in Vijayawada which has a capacity of 1.25 corn samosas a day while the upcoming plant strives to reach a target of around 2.25 corn samosas and other related products a day. It is clear now that expansion seems to be of at most priority to the company. “We plan to penetrate further into the south and we are looking for distributors for our products.” says promoter Nagaveer Adusumilli .