Agro-chemical firm Crystal Crop Protection Ltd said it has raised Rs 300 crore from IFC to fund its expansion and growth plans.
International Finance Corporation (IFC), a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets.
According to a statement, the “investment of Rs 300 crore (approx USD 37 million) by IFC and IFC Emerging Asia Fund (EAF)” will help Crystal Crop to boost farm productivity, reduce supply chain disruptions, and set up a robust infrastructure for sustainable production of crop protection products.
The statement did not mention the dilution of stake by Crystal Crop for raising this equity fund from IFC.
