IDFC PE Invests R150Cr In StarAgri Warehousing & Collateral Management
by Irfan Khan
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.
Along with the merger of Shasun Pharmaceutical with itself, Strides Arcolab also announced the induction of a strategic partner in its greenfield biotech project, Stelis Biopharma. As per the deal GMS Holding will pick up 25.1%s stake in the biotech arm infusing $8.5Mn.
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