IFC to invest $23 mn in Srinivasa Farms

International Finance Corporation (IFC) is planning to invest $23 million in Hyderabad-based Srinivasa Farms.

The investment will be in the form of straight equity or compulsorily convertible preference shares or compulsorily convertible debentures in the company.

The money will help the breeding firm expand its existing layer, broiler and breeding operations by setting up additional farms and hatcheries, expand feed mills and add soy refineries, set up a food park, and set up chicken and egg processing businesses.

Accordin to IFC, its own account equity would strengthen the financial soundness, creditworthiness and governance of the client, enabling access to a wider pool of financiers in the longer term. The company’s expansion will create over 5,000 jobs directly and potentially twice as many along with the value chain.

Image Credit : bsmedia.business-standard.com

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