Bangalore Firm Gives Warehouses Massive Cash Injection

A recent injection of $18.5 million of equity funding will be used by the Bangalore-based company National Collateral Management Services (NCMSL) to improve their Indian warehousing services by building more warehouses in order to service the constantly growing food industry in the country.

Contributions of $5 million from the India Farmers’ Fertilizer Cooperative, $7.5 million from Rabobank and $6 million from the IFC, the funding will see warehousing, processing, marketing and logistics see a boost in the face of a massive predicted growth in the Indian food market by 2015.

Managing Director and CEO of NCMSL, Sanjay Kaul, stated: “We plan to deploy funds over the next two years to create our own network of warehouses in over 40 locations across India.”

An additional planned investment of $3.5 million from the Haryana State Co-operative Supply and Marketing Federation and the Karur Vysya Bank will see further additional growth in the NCMSL’s logistics and warehousing services in the future.

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