Rabobank-backed India Agri Business Fund II (IABF-II) has invested about Rs 100 crore in agro-chemicals company Parijat Industries, the private equity fund announced.
This is the second investment announced by the $200 million (about Rs 1,331 crore) fund this month, after it invested Rs 100 crore in condiments manufacturer Cremica Food Industries. The private equity fund, which has picked up a minority stake in the New Delhi-headquartered Parijat Industries, did not, however, disclose the exact stake picked up by it in the company, in its official press statement. “We are especially excited at the company’s export forays and new products expected to be launched in the domestic market over the next few years,” said Rajesh Srivastava, chairman and managing director, Rabo Equity Advisors. India Agri Business Fund II is the second PE fund backed by Rabobank, and focuses primarily on backing ventures operating in the country’s food and agri-business segment.