In order to meet the demand from the domestic and international markets, Elista India, an electronics manufacturer, will invest Rs 250 crore to build a manufacturing facility in Kadapa, Andhra Pradesh, over the next five years, according to Chairman and Managing Director Saket Gaurav.
Although the company is in discussions with various financial institutions, the investment for the new factory would be funded equally from equity and debt, according to Gaurav.
“We intend to make our investment gradually. According to him, the initial investment will be roughly Rs 50 crore, and the facility will eventually create almost one million smart Televisions and monitors. He continued, “In five years, we will invest close to Rs 250 crore in this facility.”
The company has plans to get into the production of home appliances like refrigerators, washing machines and dishwashers from this facility, said Gaurav, adding that it would create around 500 jobs.
