GSP Crop Science

Dec 11, 2014

Private Equity | 11 December 2014 Oman India Joint Investment Fund Backs Agrochem Firm GSP Crop Science by Sanjay Nagda   @sanjay Oman India Joint Investment Fund, a JV between SBI and State General Reserve Fund (SGRF) has invested INR95 Cr in Gujarat-based agrochemical company, GSP Crop Science, for a minority stake. Quest Profin Advisor , Mumbai-based boutique investment banking firm were the sole arranger for this investment. With the funding, GSP seeks to scale up its operations and double its market share in the coming three years. Established in 1972, GSP Crop Science is engaged in manufacturing and distributing bulk and branded agro chemicals inlcuding technical grade ingredients, formulations of insecticides, fungicide, herbicides, intermediates, bio-pesticides and seed-treatment chemicals. The $100 Mn turnover company, has built a portfolio of over 70 branded products which are channelized through a pan-India network of 5000 distributors, over 30,000 dealers and 34 depots. Apart from serving the domestic market, the company also caters to the global markets exporting products to 25 countries. OIJIF is $100 Mn fund fomed in 2010 and has made five investments that include National Commodity and Derivatives Exchange Ltd, ING Vysya Bank Ltd and Solar Explosives Ltd. The JV was recently planning to raise a new fund about $350 Mn for investing in single-brand retail, specialty chemicals, pharmaceuticals and industrials with a ticket size of $15 Mn. SKS Founder Vikram Akula To Pick Up Stake In Business Correspondent Vaya Finserv With the non-compete clause coming to an end, Vikram Akula, the founder and former Chairperson of the only listed MFI SKS, is returning to the financial inclusion space as the Chairman of Vaya Finserv, a financial inclusion start-up. Akula is also picking up a 26% stake in the five month old venture.