Oman-India fund invests Rs95 crore in GSP Crop Science

The Oman India Joint Investment Fund (OIJIF), a joint venture between State Bank of India (SBI) and Oman’s sovereign wealth fund State General Reserve Fund (SGRF), has invested Rs.95 crore in GSP Crop Science Pvt. Ltd, a Gujarat-based agrochemical company.

“We believe there is a huge potential for growth in agrochemical sector in India driven by growing awareness among farmers and favourable political impetus to increase farm productivity. With OIJIF’s investment and our internal resources, GSP aims to double its market share in coming three years,” said Kenal Shah, managing director of GSP Crop Science.

Mumbai-based boutique investment banking firm Quest Profin Advisor Pvt. Ltd was the sole arranger of the investment.

“We invested in GSP Crop Science based on its underlying strengths in research and development leading to innovative products, marquee multinational and domestic customers, prudent mix of branded products and bulk sales in India and abroad,” said S. Srinath, chief executive officer of Oman India Joint Investment Fund.

Established in 1972, GSP Crop Science is a manufacturer and distributor of bulk and branded agro chemicals. These include technical grade ingredients, formulations of insecticides, fungicides, herbicides, intermediates, bio-pesticides and seed-treatment chemicals. It exports to 25 countries.

Source: www.livemint.com