Inditrade Capital to raise Rs 500 crore for agri-financing – Feedback

Inditrade Capital, formally known as JRG Securities a leading South based stock broker, is entering into agri-financing for which the company may raise upto Rs 500 crore, two sources close to the company told ET.

Private Equity player Baring India and its wholly owned subsidiary Duckworth together had sold close to 49% stake in Indiatrade Capital to Sudip Bandyopadhyay, the former head of Reliance Money. The sources said Bandyopadhyay’s plan for entering into agri-financing was to lend against non-perishable exchange traded non-essential agri commodity like turmeric, pepper, rubber, soya and cardamom. The idea was to earn a risk free interest spread of 10-15% on financing the delivery of these commodities and hedging it with futures contract on the exchange.

http://economictimes.indiatimes.com/industry/banking/finance/finance/inditrade-capital-to-raise-rs-500-crore-for-agri-financing/articleshow/50904783.cms

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