Omega Ag-Seeds Punjab is considering buying whole or substantially the whole stake in Gayatri Sea Foods and Feeds Pvt. Ltd.

The company had acquired 26% stake in Gayatri Sea Foods and Feeds last year.

Balance sheet figures of Omega suggest that as on March 2012, it had infused R4 Cr in Gayatri Sea Foods.

Gayatri Sea Foods and Feeds, incorporated in 2008 and based in Bhimavaram, offers aquaculture services. The company also produces and stores sea food.

It has cold storage and deep freezing plants used for preserving chemicals fruits, vegetables, fish and meat.

Omega is a Punjab based agriculture seeds player founded in 1992. The acquisition plan extends its plan to diversify into aquaculture and agriculture trading.

In the aquaculture space, recently Catamaran Waterbase Solutions Pvt. Ltd. was on course to raise early-stage funds of around R6.5 Cr.

Production of fish and shellfish is around 7.6 Mn and India being the third largest fish producer in the world, the domestic per capita fish consumption is comparatively low at 5.9 kg p.a vis-à-vis international standards of 16.6 kg p.a.

With an annual growth rate of 7%, the fisheries sector contributes 1% to the GDP and 5% to the agricultural GDP.

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