Mumbai, Dec. 16 -- Wingreens Farms, backed by investors including Peak XV Partners and Investcorp, has appointed JM Financial to raise up to Rs.200 crore, two people familiar with the matter said.

The move comes as the packaged foods and beverage maker executes a turnaround plan focused on improving unit economics and sharply reducing losses.

"The company has been working aggressively on bringing down costs and growing sustainably. They aim to raise anywhere between Rs.150-200 crore to further expand their brands," one of the people cited above said.

"The current fiscal will show some of these actions coming to fruition, as the company is expected to break even at a net profit level," the second person said. The person added that the r...