SDS Biotech acquires Sree Ramcides

Date:12-07-2012

SDS Biotech KK of Japan has acquired 65% stake in agri input maker Sree Ramcides.

In a filing with the Tokyo Stock Exchange, SDS said the stake will be bought for R100 Cr (Yen 1495 Mn) and that the deal will conclude by January next year.

With that, PE investor, ePlanet, is said to have exited by selling its full stake along with the promoters cutting their stake.

Promoters held 63.17% in the company and the rest was lying with ePlanet Ventures. The PE firm had invested around R20 Cr in the firm in 2008.

Set up in 1973, Sree Ramcides is an Agro solutions company with presence in both the crop protection and crop health segment for over 35 years.

It has three manufacturing facilities at Pudukkottai, Chennai & Jammu and is engaged in the manufacture of agro inputs such as herbicides, insecticides, fungicides, etc and plant nutrients across various crops all over India and in more than 10 countries.

SDS Biotech K.K. is engaged in the research, development, manufacture and sale of agricultural chemicals. It offers bactericidal agents, rice herbicides, afforestation-related agents, pesticides and other industrial medical agents.

In a similar outbound transaction last year United Phosphorus had acquired 51% stake in Brazilian firm DVA Agro Do Brasil, engaged in the production, marketing, selling and distribution of crop protection products and specialties in the Brazilian agrochemicals market, for $150 Mn.

This year in July United Phosphorus acquired Dutch firm SD Agchem from Punjab Chemicals and Crop Protection (Punjab Chemicals).

State owned Hindustan Organic Chemical was planning to raise R1 Bn through bonds earlier in August this year.