Rallis India Limited has acquired 51% stake in Maharashtra-based Zero Waste Agro Organics Private Limited for R29Cr.
The acquisition is an all cash deal funded through internal accruals.
With this deal, Rallis has strengthened its product portfolio with organic manure and soil conditioner products and have exclusive sales and marketing arrangements with ZWAOPL for domestic and international markets.
Zero Waste Agro Organics is organic manure and soil conditioners manufacturing company with three manufacturing facilities in Maharashtra and one in Uttar Pradesh.
Murugappa Group owned Coromandel International may acquire UB Group's 30.4% stake in Mangalore Chemicals and Fertilisers Ltd. UB Group's stake is the fertilizer unit is expected to be worth about R150Cr.
Making its mark in India by its first investment in Dovetail way back in 1994, it has been one of the mostactive VCs in the past 7 years after merging with Mitra's earlier fund Erasmic Venture in 2008. The firm went on to raise about $60 Million that year.