D2C Milk Brand Raises Debt via NCDs
D2C dairy and daily essentials brand Country Delight has raised ₹65 crore through the issuance of non-convertible debentures (NCDs) to its debt partner, Alteria Capital. The board approved the allotment of 6,500 NCDs at a face value of ₹1 lakh each to support general corporate activities and capital expenditure requirements.
The fresh debt capital follows Country Delight’s ₹212.5 crore Series E equity round led by Temasek in early 2025. With this new round, the Gurugram-based company has raised a total of approximately $220 million in debt and equity to expand its sourcing and cold-chain logistics network.
Challenging the Quick Commerce Leaders
A primary objective of this debt raise is to fund Country Delight’s entry into the quick commerce sector. The company has launched a pilot program for a 10-15 minute instant delivery service in Gurugram, expanding from its traditional morning subscription model. This move places Country Delight in direct competition with established quick commerce services like Blinkit, Zepto, Swiggy Instamart, and Flipkart Minutes.
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