IDFC PE Invests R150Cr In StarAgri Warehousing & Collateral Management
IDFC Private equity has invested R150Cr in Star Agri Warehousing and Collateral Management Ltd for a significant minority stake.The investment was made through it's $650Mn IDFC PE Fund III.
The funds will be used for expanding the warehouse network and creating a pan India network of allied post harvest management services.
Jaipur based Star Agri provides integrated post-harvest management solutions including warehousing, procurement and collateral management of agri-commodities. It also provides allied services such as testing, certification and transportation.
The company manages 750 agro commodity spread across 190 locations in India, with an employee strength of 400+. It has 12 testing laboratoris and claims to have direct relationships with more than 50,000 farmers, agri-processors and enterprises, banks, exporters and commodity exchanges.
According to the company's annual report, Star Agri also plans to set up its retail outlets - Star Agri Bazaar, which will cater to all the agricultural and consumer needs of the farmers and their families living in the rural areas.
The company has outlined it's expansion plan in two phases. In the first phase, it intends to set up 30 lakh tons of warehousing capacity across 10 states. It is also planning to set up cold storage chains, seed warehouses and liquid warehouses.
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This is IDFC's first investment in agri services space. It's other investments include GMR Infrastructure, Gujarat State Petronet, Delhi International Airport, L&T Infrastructure Developers, Gujarat Pipavav Port, Manipal Global Education, Ashoka Buildcon, Moser Baer Solar Limited, Emergent Ventures, Green Infra, Good earth Maritime, Doshion Limited, SE Forge, GMR Energy, Viom Networks and Deepak Cables.
Other investments in the agri services space:
IFC's $20.5 Mn investment in National Collateral Management Services Ltd. It a supply chain solutions company. It provides warehousing and storage services. It also provides collateral management services. The company is promoted by PNB, IFFCO and NCDEX in 2010.
Mayfield India and Nexus Venture Partners' R35.5Cr investment in Delhi-based Sohanlal Commodity Management Pvt Ltd. It provides post-harvest agricultural solutions including warehouse management and procurement solutions to farmers, processors, traders, exchanges and to the Government across 70 locations and 12 states in India.
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|2012-02-23||StarAgri Warehousing - IDFC PE||Private Equity||
IDFC Private Equity Fund III
|14/06/2013||Private Equity||Norwest Venture Partners||Snowman Logistics Limited||10.27||Completed|
|15/04/2013||Private Equity||Tano Capital||Shree Shubham Logistics Limited||14.70||Completed|
|07/02/2013||Private Equity||Credence Partners||20Cube Logistics Private Limited||17.03||Completed|
|22/01/2013||Private Equity||Everstone Capital||Transpole Logistics Private Limited||40.84||Completed|
|IDFC Private Equity Fund III||700|| Energy
Transport & Logistics
|Star AgriWareHousing & Collateral Management Limited||Suresh chandra Shyamlal Goyal||G-102, Molshree Residency, Plot No. 29, Mission Compound, Ajmer Road||http://www.staragri.com|