Exit part of SDS Biotech acquisition for 65% equity stake in Sree Ramcides
The company which invested around Rs 22 crore for 36% stake in 2008, exited for Rs 50-52 crore.
The exit is part of SDS Biotech acquisition for 65% equity stake in Sree Ramcides for an enterprise value of $34 million (around Rs 100 crore).
SDS Biotech as part of this transaction. SDS Biotech is a subsidiary of Idemitsu Kosan Co., Ltd., listed on the TSE with revenues of $ 47 billion and market capital of $ 3 billion.
The Chennai based Sree Ramcides Chemicals Pvt. Ltd. (Sree Ramcides), focused on manufacture of crop protection and crop health products, has entered into a strategic partnership with SDS Biotech. eplanet invested around 22 crore for 36% stake in the company in 2008 and now it has exited by diluting its entire stake for aorund Rs 50-52 crore, according to company officials.
R Gopal Managing Director, Sree Ramcides Chemicals said that they decided on SDS Bio Tech to extend the reach and capture a greater share of the market. “Our aim is to touch a turnover of Rs 250 crores by 2014-15”.
Sree Ramcides has three manufacturing facitiles at Pudukkottai (Tamil Nadu), Ambattur (Chennai) and Jammu (Jammu & Kashmir). The total production capacity for different products is Liquid– 5000 kl pa, Wettable Powder – 1000 mts pa and Granules–10,000 mts pa. These Products find applications in both crop protection and crop health.
Oil India Ltd (OIL) and ONGC Videsh Limited (OVL), the foreign arm of Oil and Natural Gas Corp, will make a joint bid to acquire a 10 per cent stake ...