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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