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Parijat industries eyeing niche in Indian agrochemical market
Jun. 10, 2016
Parijat Group
IndiaFollow
IndiaParijat industries, which has raised an undisclosed amount from Rabo Equity Advisors, Investment Advisors for India Agri Business Fund II (the "Fund") for a minority stake, is looking to become a dominant player in the Indian Agrochemical market, after making its mark in the international arena.
Parijat is an Indian Agrochemical player with extensive global presence in 70 countries, 6 international offices, exclusive distribution networks in India, Russia and the C.I.S and West Africa. Parijat is looking to achieve Sales of INR 15,000 Mn by 2021 and also expand its domestic distribution network to 10,000 retail points in three years from 4,500 at present, thereby expanding its presence through the country. Parijat is recognised in the Industry for introducing and promoting new age molecules.
The investment comes along positive news on the monsoon in India after two difficult drought years for Indian agriculture, with shall also boost the companies' growth.
Rabo Equity Advisors, a subsidiary of Rabobank, currently advises two funds in India, IABF - II and IABF - I. India Agri Business Fund I - a $120 Mn fund which is invested in 10 companies across sectors like biotechnology, warehousing, edible oils, dairy and basmati rice.
India Agri Business Fund II is a USD 200 mln Private Equity Fund targeted at expansion/growth of Indian food and agribusiness companies in India across the value chain. It is sponsored by Rabobank along with pedigreed anchors namely CDC Group, Generali Insurance and Asian Development Bank.
According to Mr. Keshav Anand, Chairman & Managing Director, Parijat Industries "Parijat is committed to exponentially growing its domestic presence with innovative products besides the international footprint. We are delighted to have Rabo Equity as our partner and hope to leverage their extensive domain knowledge and global outreach in the Food & Agriculture sector".
According to Mr. Rajesh Srivastava, Chairman & Managing Director, Rabo Equity Advisors, "Rabo Equity is excited to invest in Parijat and believe that under the leadership of the Anand Family, Parijat shall be a leading player in the high potential agrochemical sector. We are especially excited at the Company's export forays".
Parijat Industries is a first generation agrochemical company which pioneered the space of exports of Indian agrochemicals, at first through syndication and subsequently through exports of its own formulations manufactured at their plant in Ambala.
They are young entrants to the space of the Indian market but in this short time have introduced a number of molecules that have differentiated Parijat as a source of cutting edge products in the domestic space.
Source: The Time Of India
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