Posted on August 21, 2013
Intellecap's Investment Banking Practice raised INR 150 million in Series-A funding for Gramco Infratech in a transaction where it acted as the sole financial advisor.
Gramco Infratech Private Limited (Gramco), a rural-focused Company that creates infractructure to support farmers, secured a first-round equity funding of INR 150 Million from Samridhi Fund. Gramco will utilize these funds to construct agri-warehouses in Madhya Pradesh and to meet its working capital requirements.
The Samridhi Fund was launched as a private sector development programme by Department for International Development (DFID) in partnership with Small Industries Development Bank of India (SIDBI).
Based out of Indore, Gramco offers complete bouquet of services in the vicinity of villages and producing areas - spanning across inputs, warehousing, collateral finance, contract farming/seed production, fully automated handling / cleaning / grading and procurement of agri-commodities by creating strong market linkages for farmers. It is in the business of creating / leasing full service agri-infrastructure. Gramco, incorporated in 2010, owns 2 multi service facilities near Indore and plans to set-up another 11 by FY' 15. It aims to increase the number of farmers served from the current 700-800 to 10,000 by 2015.
Pic credit: Gramco.in