OIJIF invests Rs 95 Crores in GSP Crop Science Mumbai: The Oman India Joint Investment Fund (OIJIF), a joint venture between State Bank of India (SBI) and State General Reserve Fund (SGRF) has invested Rs.95 crores in GSP Crop Science, a Gujarat-based agrochemical company. Quest Profin Advisor Private Limited, Mumbai-based boutique investment banking firm were the sole Arranger for this investment.
Established in 1972, GSP Crop Science is a leading manufacturer, distributor of bulk and branded agro chemicals. These include technical grade ingredients, formulations of insecticides, fungicide, herbicides, intermediates, bio-pesticides and seed-treatment chemicals. GSP exports its products to 25 countries.
'We believe there is a huge potential for growth in Agrochemical sector in India driven by growing awareness among farmers and favorable political impetus to increase farm productivity. With OIJIF's investment and our internal resources, GSP aims to double its market share in coming 3 years' Kenal Shah, Managing Director of GSP Crop Science Private Limited said.
S Srinath(CEO), Oman India Joint Investment Fund said, 'We invested in GSP Crop Science based on its underlying strengths in Research and Development leading to innovative products, marquee multinational and domestic customers, prudent mix of branded products and bulk sales in India and abroad. The focused vision, planned operations and strong leadership of GSP Crop Sciences excite us. The Company has a strong product positioning in the market and is a leader among its peers.'
Mr. Dhiren Kothary, Director, Quest Profin Advisor Private Limited said, 'We constantly endeavor to identify growth oriented companies in the SME segment and partner them, for their expansion plan, with investment from strategic investor'.
News Posted: 12 December, 2014
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