| The money raised will fund the company's retail push in India with emphasis on the institutional business segment and also pay for the upgradation of its recently acquired milling plant. |
| The Gulf based Reliance Commodities DMCC is buying the shares at Rs 90 on a premium of 50 per cent to its current market price of Rs 59. |
| Al Balsharaf, one of Saudi Arabia's top basmati importers, had earlier taken a 16 per cent stake in the Rs 700 crore KRBL in December 2003. Through this KRBL brought in foreign direct investment into India's rice industry after a number of years. |
| KRBL also expects that the agri focused budget and foreign policy would help it reap a healthy bottomline. |
| The recently announced sops in the budget for the companies engaged in processing and marketing of agricultural produce is likely to give big boost to companies dealing in agri-commodity trade. |
| With the Centre's thrust on private participation in agriculture and related industries, value-added services in the area is becoming significant. |
| KRBL accounts for 11 percent of India's basmati rice exports. KRBL has also undertaken forward and backward integration to move up the value chain encompassing the whole industry. |
| The company had acquired an integrated rice milling plant in Punjab in February. The acquisition added 120 MT to the existing capacity of KRBL. |
| The company is currently refurbishing the plant by investing close to Rs 40 crore and the plant is expected to start its operations by October this year. |
| The company also conducts contract farming on over one lakh acre of land spread across Uttranchal, Uttar Pradesh, Punjab and Haryana which it plans to increase to over five lakh acre of land. |
| In addition, it is expanding its acreage under contract farming and urging farmers to grow other crops but with continued focus on top-quality rice. |
Top Section
Explore Business Standard