Singapore’s Mandala Capital to buy 51% stake in EFRAC

By PTI
30 June, 2016

Mandala Capital of Singapore will be investing USD 10 million (around Rs 68 crore) to acquire 51 per cent stake in food processing laboratory EFRAC, West Bengal Finance Minister Amit Mitra said today.

“This is just the beginning. They have plans to invest another USD 10 million,” he said, recalling West Bengal Chief Minister Mamata Banerjee’s visit to Singapore in 2014.

Mandala has so far invested about Rs 1,200 crore over the years in Indian agri-businesses.

EFRAC runs an integrated testing and research laboratory for food processing, pharmaceutical and environment sectors at Barasat in North 24 Parganas. It has a team of 94 scientists, which would be increased to 130 next year.

EFRAC officials said with the funds, they plan to set up a USFDA certified pharma testing facility and expand its network of sales offices and collection centres.

Dominic Redfern of Mandala Capital said they decided to invest in the company because of the highest standards of ethics practiced in the laboratory.

Like this report? Sign up for our daily newsletter to get our top reports.
 

Leave Your Comment
Exclusive: Mandala Capital set to back food processing firm

Exclusive: Mandala Capital set to back food processing firm

Debjyoti Roy 7 months ago
Singapore-based Mandala Capital is set to make its first investment in India this year by backing a food processing firm based in the eastern region,...
Jain Irrigation's agri-focused NBFC raises $18M from Mandala Capital

Jain Irrigation’s agri-focused NBFC raises $18M from Mandala Capital

Bhawna Gupta 2 years ago
Jain Irrigation Systems Ltd’s (JISL) agri-NBFC subsidiary Sustainable Agro-commercial Finance Ltd (SAFL) has raised Rs 112 crore ($17.9 million) from Mandala Capital (Mandala), which invests...
Jain Irrigation to raise around $103M from Mandala Capital

Jain Irrigation to raise around $103M from Mandala Capital

Anuradha Verma 2 years ago
Jain Irrigation Systems Ltd, India’s largest micro-irrigation firm, said on Friday it is looking to raise Rs 792 crore (around $120 million) by issuing shares...
No Comments

Singapore’s Mandala Capital to buy 51% stake in EFRAC

Powered by WordPress.com VIP