BUSINESS

KS Oils to raise Rs. 450 crore

Special Correspondent

NEW DELHI: Domestic edible oil manufacturer KS Oils on Tuesday said it would raise Rs. 450 crore through the issue of securities to private equity firms, global depository receipts (GDR) and promoters funding for expansion in Southeast Asia.

The private equity investor, New Silk Route, would invest Rs. 135 crore for nearly 7 per cent stake, existing investors — Citigroup Ventures Capital International (CVCI) and Baring Private Equity Asia — would invest Rs. 49 crore each while promoters would bring in Rs. 157 crore and an additional Rs. 60 crore would be raised through a GDR issue, according to an official statement issued here.

“KS Oils is on an aggressive growth path and we are happy to see our two current private equity partners maintain their stake in our company. We welcome New Silk Route as our new partners,” KS Oils Managing Director Sanjay Agarwal said.

The company said plans to raise funds up to Rs. 450 crore have received a term sheet commitments of Rs. 390 crore from the three private equity investors and the promoters.

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