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IFC pledges Rs 1,300 mn in Srinivasa Farms

Friday, 09 Aug 2019
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As part of strategic investment to support India’s agribusiness sector, the International Finance Corporation (IFC), a member of the World Bank Group, has committed to invest Rs 1,300 million (or USD 18.75 million equivalent) in Srinivasa Farms. Srinivasa Farms is partnering with IFC in its pursuit to expand pan India with capacity enhancement and product diversification.

The first tranche of Rs 650 million (or USD 9.37 million equivalent) has already been invested. The company is involved in the integrated layer and broiler business which has diversified interests in soya, feed, contract farming, chicken processing and retail.

The company has set up state-of-the-art chicken processing plant near Hyderabad, Telangana, to produce a variety of value-added chicken products for hotels and restaurants and fast food segment.

The group is also putting up a mega food park as part of its diversification plans to provide food processing infrastructure to small and medium enterprises in Andhra Pradesh in a plug-and-play mode.

Apart from funds infusion, IFC will contribute to the partnership by bringing to the table its global expertise in the poultry sector, technical advisory on best operating practices and climate-smart agricultural practices, corporate governance, and food safety standards. IFC’s investment will help roll out the company’s network to new areas and expand farmer reach.

KPMG was the exclusive financial adviser to the company for the transaction. Srinivasa Farms company owns a diverse portfolio of products and services. It has operations in Telangana, Andhra Pradesh, Tamil Nadu, Karnataka, and expanding soon into Maharashtra, Haryana and Punjab.

 
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