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Everstone, ICICI Bank eyeing $22m Sohan Lal Commodity investment

29 Oct 2012

Indian private equity firm Everstone Capital and ICICI Bank‘s Emerging India Fund are reportedly closing in on an investment of up to INR1.2bn ($22m) in agricultural logistics company Sohan Lal Commodity Management.

The deal would mark the third round of funding for Sohan Lal, the most recent being an INR355m ($650,000) investment from Nexus Venture Partners and Mayfield Fund last year, according to a report by The Times of India.

Sohan Lal works across agri-commodities including cereals, pulses, oil seeds and spices, and boasts more than one million sq ft of warehouse space.

The deal comes a year after Everstone invested INR1.5bn ($30m at the time) in Delhi-based pesticide formulations company Crystal Crop Protection.

The company is among the fastest growing agrochemical businesses in India, has manufacturing facilities in Jammu and Haryana and employs about 600 people.

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