IFFCO, Rabo Equity, IFC may sell stake in NCML for Rs 1,000cr

IFFCO, Rabo Equity and IFC are planning to sell their combined stake of nearly 70 per cent in agri-logistics firm NCML for an estimated Rs 1,000 crore.
According to sources, IFFCO, Rabo Equity and International Finance Corporation (IFC) are in talks with a number of potential investors including Fairfax India Holdings to sell their stake in the National Collateral Management Services Limited (NCML).
Fairfax India Holdings is a fund set up by Canadian investor Prem Watsa.
The deal size is estimated to be around Rs 1,000 crore, they said, adding that Kotak Mahindra has been appointed to find investors.
IFFCO has about 24 per cent stake in NCML, while Rabo Equity and IFC together hold 45 per cent stake in the firm.

Meanwhile, when contacted NCML MD Sanjay Kaul declined to comment on the issue.

Sources said that the three shareholders are divesting their stake to realise higher value for their investment.
NCML provides services to manage risks across various stages of commodity and inventory handling under a single umbrella.
Other shareholders in NCML are Karur Vysya Bank, HAFED, NCDEX, Punjab National Bank, Corporation Bank, Bank of India, Canara Bank, HDFC Bank, ACE Geneva, Indian Bank and YES Bank.