ChrysCapital invests $50 mn in Safex Chemicals for minority stake

By: |
March 24, 2021 4:51 PM

Founded in 1991, Safex manufactures and sells branded agrochemicals. It has a pan-India presence with a network spanning over 10,000 distributors across 17 states.

ChrysCapital is a private equity firm.

Agro-chemical firm Safex Chemicals India on Wednesday said ChrysCapital has invested USD 50 million (around Rs 362 crore) in the company for a minority stake.

The transaction involves a combination of secondary sale by existing PE investor, BanyanTree Growth Capital, along with a primary raise by the company for growth initiatives, it said.

“Safex Chemicals is pleased to announce that ChrysCapital is investing USD 50 million in the company for a significant minority stake,” the company said in a statement.

ChrysCapital is a private equity firm.

As a part of the deal, ChrysCapital Managing Director Raghav Ramdev and industry veteran R Hariharan will join the board of Safex as nominees of ChrysCapital, it added.

“We intend to leverage our strong management capabilities and ChrysCapital’s extensive network to drive Safex’s growth by bringing innovative products and solutions to the Indian agrochemical industry through M&A and in-licensing opportunities,” Safex Chemicals Founder Director S K Chaudhary said.

Founded in 1991, Safex manufactures and sells branded agrochemicals. It has a pan-India presence with a network spanning over 10,000 distributors across 17 states.

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