Spacewood Furnishers raises Rs 300 crore from A91 Partners to push manufacturing, retail presence

Nagpur-based modular furniture maker Spacewood Furnishers has announced a Rs 300-crore funding from private equity firm A91 Partners. ET had first reported on October 27 about the development. The transaction values Spacewood at Rs 1,200 crore.

Following the investment, A91 Partners has picked up significant minority stake in the firm. The capital will be used for expansion, brand-building, and strengthening operations, the company said in a statement.

In the ongoing fiscal year, the company said it expects to clock revenues of approximately Rs 700…