With a view to stepping up its revenues in the seeds space, Rallis India, a subsidiary of Tata Chemicals Ltd, has acquired a majority stake in Metahelix Life Sciences Ltd. With this acquisition the company expects additional cumulative revenue of Rs 1,000 crore by 2015.
The company has picked up a stake of 53.5 per cent in Metahelix for Rs 99.5 crore and will continue to invest in the company and subscribe to an additional equity of Rs 25 crore to increase its stake in Metahelix to 59.02 per cent soon. The company plans further investments with focus on R&D and if required on the processing facilities also.
The Indian seeds market is currently the sixth largest in the world at Rs 6,500 crore and is growing at 12-13 per cent per annum. Metahelix has a product portfolio in rice, maize, millets and vegetable seeds along with good germplasm with many exciting products in the pipeline. It has nationwide sales presence through Dhaanya Seeds, sold through around 1,000 distributors. Metahelix is the first Indian company to have a proprietary Bt trait, cry1C approved in cotton.crackcrack
Company Name | CMP |
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UPL | 509.10 |
BASF India | 5635.10 |
PI Industries | 3797.55 |
Bayer CropScience | 5790.00 |
Sumitomo Chemical India | 512.05 |
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