Indian firm invests €23m in agriculture services company

The private equity arm of India’s Infrastructure Development Finance Co has invested €23m in an agriculture services firm, Staragri Warehousing and Collateral Management Ltd.

Infrastructure Develop-ment Finance private equity, which manages about €900m, will pick up a significant minority stake in the company, it told Bloomberg.

Staragri told The Hindu newspaper it planned to utilise the fund to significantly expand its warehousing capacity. The companies did not divulge the equity stake transacted.