Coverage report for the press release issued on NCMSL raises equity from Rabo Fund and IFC; IFFCO and three Shareholders also pitch in on 31 st May

Transcription

1 Coverage report for the press release issued on NCMSL raises equity from Rabo Fund and IFC; IFFCO and three Shareholders also pitch in on 31 st May 2011

2 Publication The Economic Times Edition All Edition Date Jun 1, 2011

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30 vccircle.com NCMSL Raises Rs Cr From Rabo Equity, IFC & Others The company will deploy these funds to create its own network of warehouses in more than 40 locations. National Collateral Management Services Ltd (NCMSL), a leading private agriwarehousing company, is raising additional equity of Rs crore from IABF, IFC and four of its existing shareholders. The India Agri-Business Fund (IABF), floated by Rabobank and the International Finance Corporation (member of the World Bank Group), will be investing Rs crore and Rs crore respectively. IFFCO will be the largest shareholder participant, with an investment of Rs crore. Three other existing shareholders of NCMSL Karur Vysya Bank Ltd (KVB), Haryana State Co-operative Supply and Marketing Federation Ltd (HAFED) and National Commodity & Derivatives Exchange Ltd (NCDEX) will also participate in the additional equity plan to the extent of Rs 9.15 crore, Rs 4.85 crore and Rs 2 crore respectively. SBI Capital Markets Ltd was the financial advisor of NCMSL for the equity placement. Sanjay Kaul, MD & CEO of National Collateral Management Services Ltd, said, NCMSL offers modern, scientific and IT-enabled storage and preservation services with focus on agri commodities. In the last six years, the company has emerged as a leading player in providing warehousing, collateral management, testing & certification, and weather intelligence services. We plan to deploy these funds over the next two years to create our own network of warehouses in more than 40 locations across the country. The Fund takes pride in committing an investment in agri-warehousing, which is critically deficient in India. The knowledge and input from Rabobank and the fund management team will help in further growth of NCMSL s agri-warehousing and collateral management activities. The project will help in deepening the commodities market in India while also enabling liquidity of warehouse receipts and strengthening of price risk management capabilities of various stakeholders across the value chain, right from farmers to processors, said Rajesh Srivastava, CMD of Rabo Equity. Food & agri business has seen a lot of action from PE funds. Rabo Equity Advisors, the PE arm of the Dutch bank Rabo, has raised a $120 million India Agri Business Fund and has closed six deals since its launch in Aavishkaar Venture Management has earlier invested in food and agri-related companies such as Zameen Organic, a marketing company for fair trade, organic and pesticide-free cotton, and Shree Kamdhenu Electronics Pvt Ltd, a company developing technology for the dairy industry.

31 Andhrabusiness.com Fund--IFC.html NCMSL raises equity from Rabo Fund, IFC Andhra Business Bureau May 31, 2011 HYDERABAD: National Collateral Management Services Limited (NCMSL), the country s pioneer organization in the private agri-warehousing space, is raising additional equity of Rs crore from IABF (Rabo s Private Equity arm which specializes in food and agribusiness), IFC (member of World Bank Group) and four of itsexisting shareholders.the India Agri-Business Fund (IABF) and the International Finance Corporation (IFC) will invest Rs crore and Rs crore respectively. IFFCO would be the largest shareholder participant with an investment of Rs crore. Three other existing shareholders of NCMSL - Karur Vysya Bank Limited (KVB), Haryana State Co-operative Supply and Marketing Federation Limited (HAFED) and National Commodity & Derivatives Exchange Limited (NCDEX) - will also participate in the additional equity plan to the extent of Rs crore, Rs crore and Rs 2 crore respectively. Sanjay Kaul, MD & CEO, NCMSL, said: NCMSL offers modern, scientific and IT enabled storage and preservation services with focus on agri commodities. In the last six years the Company has emerged as a leading player in providing warehousing, collateral management, testing & certification and weather intelligence services. We plan to deploy these funds over the next two years to create our own network of warehouses in over 40 locations across the country.

32 Money Control.com NCMSL to raise Rs cr from 6 PE firms Published on Tue, May 31, 2011 at 21:41 Source : PTI Updated at Tue, May 31, 2011 at 23:26 National Collateral Management Services Limited (NCMSL) on Tuesday said it is raising Rs crore from six private equity firms to build warehouses in over 45 locations in 12 states across the country. "We are committed to build 3.5 million square feet and six lakh tonne agri-warehousing space in next 24 months with an investment of Rs 300 crore, out of which we are planning to raise Rs 200 crore through debt and the additional Rs crore through PE firms," NCMSL''s Managing Director and CEO Sanjay Kaul told reporters. The debt documents are in the final stage, which will be from a consortium of four banks led by Yes Bank, he said. Talking about the PE firms, he said, IABF (Rabo''s Private Equity arm which specialises in food and agri-business) and IFC (member of World Bank Group) will be investing Rs crore and Rs crore, respectively. IFFCO, NCMSL''s existing shareholder, will be the largest shareholder participant with an investment of Rs crore. "Presently, IFFCO has 13% stake in NCMSL on preferential allotment basis and post this investment it will go up to 20.64%," he said. Meanwhile, IFC''s direct stake in the company will be 16.4%, IFC Director, Infrastructure, Anita Geroge said. "IFC also has 16.4% stake in Rabo Equity, which will take the total stake in NCMSL, including both direct and indirect, close to 20%," she added. Three other existing shareholders, like Karur Vysya Bank Limited (KVB), Haryana State Co-operative Supply and Marketing Federation Limited (HAFED) and National

33 Commodity and Derivatives Exchange Limited (NCDEX) will also participate in the additional equity plan to the extent of Rs 9.15 crore, Rs 4.85 crore and Rs 2 crore, respectively.

34 Economic Times.com million-in-equity-funding/articleshow/ cms NCMSL raises $18.5 million in equity funding radhika nair May 31, 2011, 11.15pm IST Tags: BANGALORE: Agri-warehousing company National Collateral Management Services (NCMSL) has raised $18.5 million in equity funding. Of this, World Bank's investment arm IFC invested $6 million, Rabobank's India Agri Business Fund put in $7.5 million and Indian Farmers' Fertilizer Cooperative provided $5 million. The company will use the funds to build more warehouses. "We plan to deploy funds over the next two years to create our own network of warehouses in over 40 locations across India," said Sanjay Kaul, NCMSL's Managing Director and CEO. Existing investors, the National Commodity and Derivative Exchange Ltd, Karur Vysya Bank and the Haryana State Co-operative Supply and Marketing Federation, will also invest an additional $3.5 million in the company. By 2015, the Indian food industry is estimated to grow to $258 billion up from the current level of $ 181 billion according to a report by E&Y India and FICCI. Agribusinesses ranging from farm inputs, logistics and warehousing, processing and marketing dairy and food produce are scaling operations and are raising equity funding in recent months. In March this year, a warehousing management company, Sonhanlal Commodities (SLCM), raised Rs 35.5 crore in its second round of funding from Mayfield India and Nexus Venture Partners. In May 2010 they had raised Rs 10 crore from Nexus. In May this year, Small Enterprise Assistance Funds' (SEAF) India Agribusiness International Fund acquired a significant minority stake in Gwalior-based food ingredients company, Tropilite Foods.

35 Business Standard.com Rabobank, others invest Rs 101 cr in NCMSL BS Reporters / Mumbai June 1, 2011, 1:15 IST The India Agri-Business Fund (IABF), Rabobank s private equity arm, and International Finance Corporation (IFC), along with four existing shareholders have roped in to invest Rs crore in National Collateral Management Services (NCMSL), a warehousing arm of the National Commodity and Derivatives Exchange (NCDEX). IABF and IFC have agreed to invest Rs crore and Rs crore, respectively in the company, which is planning to set up a 600,000-tonne state-of-the-art warehousing facility in 45 locations spread across 12 states. Others, including Iffco, Karur Vysya Bank, Hafed and NCDEX have agreed to invest Rs crore, Rs 9.15 crore, Rs 4.85 crore and Rs 2 crore, respectively. Iffco will then emerge as the largest shareholder in the company, with its equity to rise to 20.6 per cent from 14 per cent now. NCMSL also plans to raise Rs 200 crore from a consortium of six banks led by YES Bank, for which negotiations are in an advanced stage. The company has already started land acquisition in various states to commence commercial operation in 24 months. We have one million tonnes of storage capacity spread in 700 warehouses across 16 states. All of them are on lease. With this investment, we will be able to build 3.5 million square feet of modern warehousing facility which will offer us higher profit margin, said Sanjay Kaul, managing director of NCMSL. With this infusion of equity, the existing shareholders, including NCDEX, Canara Bank and Bank of India, will have to suffer equity dilution, Kaul said.

36 Centralchronicle.com NCMSL announces additonal equity of Rs crore Posted On Tuesday, May 31, 2011 Agencies Mumbai, May 31: National Collateral Management Services Limited (NCMSL), an organization in the private Agri-warehousing space, is raising an additional equity of Rs crore from the Indian Agri-business Fund (IABF). IABF, promoted by Rabobank and the International Finance Corporation (IFC), member of the World Bank Group, will be investing Rs crore and Rs crore respectively. IFFCO would be the largest shareholder participant with an investment of Rs crore. Three other existing shareholders of NCMSL, viz. Karur Vysya Bank Limited (KVB), Haryana State Co-operative Supply and Marketing Federation Limited (HAFED) and National Commodity and Derivatives Exchange Limited (NCDEX) would also be participating in the additional equity plan to the extent of Rs.9.15 crore, Rs.4.85 crore and Rs.2 crore respectively. Speaking on the development, Mr. Sanjay Kaul, MD and CEO, National Collateral Management Services Limited, told reporters, "NCMSL offers modern, scientific and IT enabled storage and preservation services with focus on Agri commodities. In the last six years the Company has emerged as a leading player in providing warehousing, collateral management, testing and certification and weather intelligence services. We plan to deploy these funds over the next two years to create our own network of warehouses in over 40 locations across the country." "The Fund takes pride in committing an investment in Agri-warehousing which is critically deficient in India. The knowledge and inputs from Rabobank and the fund management team shall help in further growth of NCMSL's Agri-warehousing and collateral management activities. The project will help in deepening of the commodities market in India while also enabling liquidity of warehouse receipts and strengthening of price risk management capabilities of the various stakeholders across the value chain right from farmers to processors", said Rajesh Srivastava, CMD of Rabo Equity. Ms. Anita George, Director, Infrastructure, IFC said, "In India, a huge quantity of food items is wasted annually on account of inadequate agricultural infrastructure including storage and transportation facilities. This endeavor will have a demonstration effect on the private sector thereby attracting new private investors into a space currently dominated by state owned enterprises." Dr G N Saxena, Director IFFCO said, "We have been associated with NCMSL right from its inception and we see a lot of synergy between IFFCO's operations and the service portfolio of NCMSL. We are, therefore. pleased to be associated with the expansion plan of NCMSL in a project that will give clear benefits to the Indian farmer community."

37 Globalnewzservice.com NCMSL raises equity from Rabo Fund and IFC; IFFCO and three Shareholders also pitch in Mumbai, May 31, 2011: (Ajay Rawal ) National Collateral Management Services Limited (NCMSL), the country s pioneer organization in the private agri-warehousing space is raising additional equity of Rs crore from IABF (Rabo s Private Equity arm which specializes in food and agribusiness), IFC (member of World Bank Group) and four of its existing shareholders. The India Agri-Business Fund, (IABF) [promoted by Rabobank] and the International Finance Corporation (IFC) [member of the World Bank Group] shall be investing Rs crore and Rs crore respectively. IFFCO would be the largest shareholder participant with an investment of Rs crore. Three other existing shareholders of NCMSL, viz. Karur Vysya Bank Limited (KVB), Haryana State Co-operative Supply and Marketing Federation Limited (HAFED) and National Commodity & Derivatives Exchange Limited (NCDEX) would also be participating in the additional equity plan to the extent of Rs crore, Rs crore and Rs 2 crore respectively. Talking to newsmen here today Mr. Sanjay Kaul, MD & CEO, National Collateral Management Services Limited said, NCMSL offers modern, scientific and IT enabled storage and preservation services with focus on agri commodities. In the last six years the Company has emerged as a leading player in providing warehousing, collateral management, testing & certification and weather intelligence services. We plan to deploy these funds over the next two years to create our own network of warehouses in over 40 locations across the country. The Fund takes pride in committing an investment in agri-warehousing which is critically deficient in India. The knowledge and inputs from Rabobank and the fund management team shall help in further growth of NCMSL s agri-warehousing and collateral management activities. The project will help in deepening of the commodities market in India while also enabling liquidity of warehouse receipts and strengthening of price risk management capabilities of the various stakeholders across the value chain right from farmers to processors said Rajesh Srivastava, CMD of Rabo Equity. Ms. Anita George, Director, Infrastructure, IFC said, In India, a huge quantity of food items is wasted annually on account of inadequate agricultural infrastructure including storage and transportation facilities. This endeavor will have a demonstration effect on the private sector thereby attracting new private investors into a space currently dominated by state owned enterprises. Dr. G. N. Saxena, Director IFFCO said, We have been associated with NCMSL right from its inception and we see a lot of synergy between IFFCO s operations and the service portfolio of NCMSL. We are, therefore, pleased to be associated with the

38 expansion plan of NCMSL in a project that will give clear benefits to the Indian farmer community.

39 Commodityonline.com crore html NCMSL raising equities worth Rs crore MUMBAI(Commodity Online) : National Collateral Management Services Limited (NCMSL), India s pioneer organization in the private agri-warehousing space is raising additional equity of Rs crore from IABF, IFC and four of its existing shareholders. The India Agri-Business Fund, (IABF) [promoted by Rabobank] and the International Finance Corporation (IFC) [member of the World Bank Group] shall be investing Rs crore and Rs crore respectively. IFFCO would be the largest shareholder participant with an investment of Rs crore. Three other existing shareholders of NCMSL, viz. Karur Vysya Bank Limited (KVB), Haryana State Co-operative Supply and Marketing Federation Limited (HAFED) and National Commodity & Derivatives Exchange Limited (NCDEX) would also be participating in the additional equity plan to the extent of Rs crore, Rs crore and Rs 2 crore respectively. Speaking on the development, Mr. Sanjay Kaul, MD & CEO, National Collateral Management Services Limited said, NCMSL offers modern, scientific and IT enabled storage and preservation services with focus on agri commodities. In the last six years the Company has emerged as a leading player in providing warehousing, collateral management, testing & certification and weather intelligence services. We plan to deploy these funds over the next two years to create our own network of warehouses in over 40 locations across the country. The Fund takes pride in committing an investment in agri-warehousing which is critically deficient in India. The knowledge and inputs from Rabobank and the fund management team shall help in further growth of NCMSL s agri-warehousing and collateral management activities. The project will help in deepening of the commodities market in India while also enabling liquidity of warehouse receipts and strengthening of price risk management capabilities of the various stakeholders across the value chain right from farmers to processors said Rajesh Srivastava, CMD of Rabo Equity.

40 Anita George, Director, Infrastructure, IFC said, In India, a huge quantity of food items is wasted annually on account of inadequate agricultural infrastructure including storage and transportation facilities. This endeavor will have a demonstration effect on the private sector thereby attracting new private investors into a space currently dominated by state owned enterprises. Dr. G. N. Saxena, Director IFFCO said, We have been associated with NCMSL right from its inception and we see a lot of synergy between IFFCO s operations and the service portfolio of NCMSL. We are, therefore, pleased to be associated with the expansion plan of NCMSL in a project that will give clear benefits to the Indian farmer community.