IDFC PE Backs Agricultural Services Co

The private equity arm of India’s Infrastructure Development Finance Co is reported to have invested 1.5 billion rupees ($30.47 million) in Staragri Warehousing and Collateral Management, an agriculture services company, writes reuters. IDFC Private Equity, which manages about $1.3 billion, will acquire a minority stake in the company.

Reuters – The private equity arm of India’s Infrastructure Development Finance Co said on Thursday it invested 1.5 billion rupees ($30.47 million) in an agriculture services company, Staragri Warehousing and Collateral Management Ltd.

IDFC private equity, which manages about $1.3 billion, will pick up a significant minority stake in the company, it said in a statement.

Staragri, a Jaipur-based company, is into agri-commodity warehousing services.

($1 = 49.2250 Indian rupees) (Reporting by Indulal PM; Editing by Subhadip Sircar)