Kolkata: Keventer Agro Ltd on Thursday said it has raised $25 million from Mandala Capital, a private equity firm, for future expansion plans.

The company said it had charted out a growth plan for each of its businesses dairy, banana and frozen foods.

“With this fresh infusion of capital, we intend to invest about $100 million into our dairy business in Bengal and grow our food processing business exponentially all towards our endeavour of turning into a $500 million company by 2022,” company’s Chairman and Managing Director Mayank Jalan said.