Country Delight Secures Rs 65 Crore through NCD Issuance

Country Delight, a brand focusing on dairy and daily essentials located in Gurugram, has successfully raised Rs 65 crore by issuing non-convertible debentures (NCDs) with the assistance of Alteria Capital. The company’s board has sanctioned the release of 6,500 non-convertible debentures, each valued at Rs 1 lakh, aimed at achieving this funding, as stated in their filing with the Registrar of Companies (RoC).

Funding Utilisation

The funds acquired from this debt issuance are earmarked for general corporate purposes within the company. In March 2025, Country Delight previously secured Rs 212.5 crore (approximately $25 million) through its Series E funding round from Temasek.

About Country Delight

Founded by Chakradhar Gade and Nitin Kaushal, Country Delight delivers a wide array of dairy items, bakery products, poultry, and farm produce to its clientele. They procure their offerings directly from dairy farms and currently serve 1.5 million customers across over 25 cities, such as Delhi NCR, Bengaluru, and Chandigarh.

Financial Milestones

To date, Country Delight has successfully raised a total of $220 million via both debt and equity financing. Notably, Temasek is the largest external stakeholder, maintaining a 13.63% ownership post-allotment.

Quick Commerce Initiative

The Gurugram-based company has recently ventured into the quick commerce sector by launching a trial for its 10-15 minute delivery service in Gurugram. Through this new service, the company plans to go head-to-head with competitors like Zepto, Blinkit, Swiggy Instamart, Flipkart Minutes, and Amazon Now (previously known as Amazon Tez).

Financial Performance in FY24

Although the daily essential platform has not yet disclosed its financial performance for FY24 officially, a report from The Arc indicates that Country Delight achieved a revenue of Rs 1,380 crore in FY24, reflecting a remarkable 50% growth from Rs 917 crore in FY23. However, the company also faced a loss of Rs 260 crore during FY23.