Rabobank-promoted private equity fund ‘India Agri Business Fund II’ has invested around Rs 100 crore in agrochemical firm Parijat Industries to acquire a minority stake.
Rabo Equity Advisors, the investment advisors for PE fund ‘India Agri Business Fund II’, announced an “undisclosed investment” into Parijat Industries to acquire minority stake.
Sources said that an investment of about Rs 100 crore has been made in Parijat Industries.
This is the second investment by India Agri Business Fund II, Rabo Equity advisors said in a statement.
The first investment, which was also of about Rs 100 crore, was announced last week in Cremica Food Industries.
India Agri Business Fund II is a USD 200 million private equity fund targeted at expansion/growth of Indian food and agri-business companies in India across the value chain.
The fund sponsored by Rabobank along with pedigreed anchors namely CDC Group and Asian Development Bank.
Commenting on the investment, Rabo Equity Advisors CMD Rajesh Srivastava said that it expects Parijat to be a leading agrochemical player in the high potential sector.
“We are especially excited at the company’s export forays and new products expected to be launched in the domestic market over the next few years,” he added.
Parijat is looking to achieve sales of Rs 1,500 crore by 2021 and also expand its domestic distribution network to 10,000 retail points in three years from 4,500 at present.
“Our team at Parijat is committed to exponentially growing its domestic presence besides the international footprint. We are delighted to have Rabo Equity as our partner and hope to leverage their extensive domain knowledge and global outreach in the food and agri sector,” said Keshav Anand, Chairman & Managing Director, Parijat Industries.
Rabo Equity Advisors currently advises two funds in India, IABF I and IABF II. India Agri Business Fund I, a USD 120 million fund which is invested in 10 companies across sectors like biotechnology, warehousing, edible oils, dairy and basmati rice.
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