Piramal Alternatives, the fund management business of the Piramal Group, has invested ₹150 crore in Kumar Equipment (India) Private Limited (KEIPL), a manufacturer and turnkey solutions provider of commercial kitchen equipment. The investment has been made through Piramal Alternatives’ India Credit Opportunities Fund II (PCF II) and will support the company’s manufacturing expansion, deeper vertical integration and execution capabilities as it grows its presence across India.
The investment marks the sixth transaction by PCF II, a sector-agnostic fund focused on high-growth mid-market companies. Piramal Alternatives’ first fund, with a corpus of ₹2,100 crore, is fully invested across 17 investments, of which 15 have been successfully exited.
Founded by first-generation entrepreneurs Rajesh Kumar and Krishan Kumar, KEIPL designs, manufactures and executes turnkey commercial kitchen systems for institutional and hospitality customers. The company has completed more than 2,500 projects across 22 states. It operates manufacturing facilities in Rajasthan and Bengaluru and has a pan-India sales network.
The capital infusion will help KEIPL expand manufacturing capacity, strengthen its product portfolio and improve its ability to serve customers across the country. The company provides end-to-end services, covering consultancy, design, in-house manufacturing of critical components and project execution.
The next phase of growth will also involve the contribution of the second generation of leadership. Akash Choudhary oversees factory operations and research and development, with a focus on product innovation, while Akash Singh leads business development and the company’s engagement with corporate and hospitality customers.
Kalpesh Kikani, CEO, Piramal Alternatives, said, “KEIPL has built a differentiated business through deep customer relationships, strong execution capabilities and a growing focus on in-house manufacturing. We look forward to partnering with Rajesh and Krishan as they scale the business, expand their national footprint and strengthen KEIPL’s position in India’s commercial kitchen equipment market.”
Rajesh Kumar and Krishan Kumar, Co-founders of KEIPL, said the investment would help expand manufacturing capabilities, strengthen the product portfolio and improve customer service while maintaining the quality and execution standards underpinning the company’s long-standing relationships.
Piramal Alternatives is the fund management business of the Piramal Group, with approximately US$1.6 billion in assets under management. It provides tailored capital solutions, ranging from pure credit to structured investments, to support business growth, transformation and long-term value creation. Its flagship funds include the India Resurgence Fund and the Piramal Performing Credit Fund.
Headquartered in Gurugram, KEIPL manufactures commercial kitchen equipment and provides turnkey solutions to corporate, hospitality and institutional customers. Founded by Rajesh Kumar and Krishan Kumar, who bring more than three decades of industry experience, the company offers services from consultancy and design to manufacturing and project execution.
