Rabo picks up 26% stake in Geepee

Written by fe Bureaus | Mumbai | Updated: Sep 30 2009, 05:47am hrs
Rabo Equity Advisors has picked up a 26% equity stake in the Rs 650-crore Geepee Agri Pvt Ltd for an undisclosed sum via its India Agri Business Fund. The investment comes on the heels of the GP Group buying out its joint venture partner Noble Group in June 2009.

Geepee Agri has oilseed crushing plants at Kota in Rajasthan and Akola in Maharashtra and is planning to expand in the large palm oil segment, which constitutes 50% of Indias consumption. The company distributes refined soyabean oil under its brand Parampara in Rajasthan, Maharashtra and Chhattisgarh. Rajesh Srivastava, CMD, Rabo Equity Advisors, said, "Geepee Agri has witnessed rapid growth over the last few years and the superior quality of management, corporate governance and strategic insight into the business are indicators that the growth momentum will remain sustained." Mahendra Mansingka, MD of Geepee Agri, commenting on the development said, We are pleased to have an experienced investor like the IAF as our partner. We intend to grow both organically and inorganically and look forward to the immense value-add from Rajesh and his team.

According to an analysis by Ernst & Young, based on activities in the US, Europe, China and Israel, global investment in cleantech firms reached a record $4.6 billion in the first three quarters of 2008, an 82% increase over the same period in the previous year. Around 13% of all venture capital investment in these geographies was represented.