Elista, a manufacturer of electronics and home appliances, announced on Wednesday that it will invest Rs 250 crore to build a modern 1,32,300 sq ft facility in Andhra Pradesh that will be operational by the first quarter of 2024.

The company, which was founded in 2020, manufactures electronics, home appliances, IT, and mobile accessories. Elista, a member of the TeknoDome Group in the UAE, follows India's 'Atmanirbhar' manufacturing principle.

The Noida-based company also announced that it would enter the chest freezer market. According to the company, these chest freezers have a long-lasting design, increased cooling capacity, and extra-large capacity to meet all needs.

"At Elista, we are constantly exploring newer categories where we can make a meaningful impact," said Pawan Kumar, CEO. We began our journey in India with the introduction of the dishwasher category, and we have successfully disrupted the segment with our value-for-money feature-packed offerings."

Elista has introduced three types of chest freezers, according to the statement: convertible chest freezers, combi chest freezers, and visible coolers. According to the company, these large-capacity freezers will be ideal for storing frozen food and beverages and keeping them fresh for extended periods of time.

According to the company's statement, the Indian chest freezer market is rapidly expanding in the country. According to estimates, the market will grow at a compound annual growth rate (CAGR) of 5% and will reach Rs 1.650 crore by 2025.

Elista stated that it intends to capture a significant share of this expanding market with its new offering aimed at value-conscious customers.

According to the statement, another important factor that people consider before purchasing a chest freezer is maintenance. Elista responded by offering a one-year warranty on all of its freezers, as well as a three-year warranty on the compressor.