Mahyco's international arm to raise $20 million from IFC for expansion

This will be part of the $26 million the company plans to use to expand its cotton business in Sub-Saharan Africa (SSA) and its rice and eggplant business in Asia

The international arm of Maharashtra Hybrid Seed Company Ltd (Mahyco India) is planing to raise $20 million from the International Finance Corporation (IFC).

This will be part of the $26 million that Mahyco International has earmarked to expand its cotton business in Sub-Saharan Africa (SSA) and its rice and eggplant business in Asia.

IFC proposes to support the project with $20 million in funding, comprising a $10 million equity investment from IFC’s own account and a $10 million equity investment in its capacity as Implementing Entity of the Private Sector Window of the Global Agriculture and Food Security Program (GAFSP).