Ahmedabad-based, Timbor Home has received investment of Rs 6 crore ($1.06 million) from Small Industries Development Bank of India (SIDBI). With the investment, Timbor plans to promote and set up its high-end ‘IKI’ kitchen stores across India in 2012. The money will be utilised to put in place 30 high-end kitchen stores across all the major cities in India during this financial year. These kitchens will be equipped with a world class range of cabinetry, shutters, storage, & hardware, including exclusive handles and special kitchen light fittings. IKI Kitchens will be showcasing Hettich’s award winning Red Dot design and many similar state-of-the-art products.
Timbor Home currently has 100 plus ‘Timbor Cucine’ modular kitchen stores, catering to the mass-medium price segment.
In January 2012, HT Media, along with DB Corp, invested $1.11 million in the company. Times Private Treaties, the private equity arm of Bennett, Coleman & Co. Ltd, had also invested $0.65 million in the firm.