Kotak Strategic Situations India Fund II, managed by Kotak Alternate Asset Managers Limited (KAAML) on Thursday announced an investment of ₹375 crore in Cropnosys (India) Pvt Ltd, an emerging agrochemical player focussed on niche high value technicals.
The Bengaluru-headquartered Cropnosys is engaged in the manufacturing and supply of technical grade active ingredients, intermediates and formulations for both export and domestic Indian agrochemical markets.
With this capital raise, it plans to scale up its manufacturing capabilities and bolster its products suite, Kotak said in a statement.
Rahul Shah, Partner, Kotak Strategic Situations Fund at Kotak Alternate Asset Managers Ltd, said, “We are delighted to partner with Cropnosys to fund their next phase of growth. India has emerged as the leading exporter of agrochemicals globally on the back of its strong manufacturing ecosystem, proven track record and cost competitiveness.”
Cropnosys has manufacturing unit in Vapi in Gujarat and in Bengaluru. The company caters to markets across continents including Europe, North America, South America, Middle East and Africa among others. Set up in 2006, Cropnosys has diversified into segments such as biologicals and crop nutrition. Cropnosys is also focused on bringing to market its unique portfolio of organic bio fertilizers.