|Chennai||Rs. 24470.00 (1.37%)|
|Mumbai||Rs. 24900.00 (0.97%)|
|Delhi||Rs. 24200.00 (1.26%)|
|Kolkata||Rs. 24160.00 (0%)|
|Kerala||Rs. 24000.00 (0.63%)|
|Bangalore||Rs. 23800.00 (0%)|
|Hyderabad||Rs. 24140.00 (1.17%)|
ePlanet Capital has exited Chennai-based Sree Ramcides by selling its entire shareholding to Tokyo-based SDS Biotech KK (SDS Biotech), which is into research & development of agrochemicals. The company had invested around Rs 22 crore for a 36 per cent stake in 2008 and exited for Rs 50-52 crore.
This comes in the wake of SDS Biotech acquiring 65 per cent equity stake in Sree Ramcides for an enterprise value of $ 34 million (around Rs 100 crore). SDS Biotech is a subsidiary of Idemitsu Kosan Co, Limited, listed on the TSE with revenues of $ 47 billion and market capital of $3 billion.
Sree Ramcides, focused on manufacture of crop protection and crop health products, has entered into a strategic partnership with SDS Biotech.
Sree Ramcides managing director R Gopal said they decided on SDS to extend the reach and capture a greater share of the market. “Our aim is to touch a turnover of Rs 250 crore by 2014-15.”
Sree Ramcides has three manufacturing facilities at Pudukkottai (Tamil Nadu), Ambattur (Chennai) and Jammu (Jammu & Kashmir).