Private Equity firm Everstone Capital and ICICI Bank’s Emerging India Fund (EIF) has invested Rs. 124 crore ($22.5 million) in Sohan Lal Commodity Management, a company engaged in the business of warehousing and collateral management.
The proceeds of the issue shall be utilized towards expansion of business. The investment was a Series C round funding, where existing investors Mayfield Fund and Nexus Venture Partners are also participating in the fresh round of funding.
Amarchand Mangaldas advised Everstone and EIF with a team led by Partner S.H. Bhojani.
J. Sagar Associates advised Sohan Lal with a team led by Partner Sidharrth Shankar along with Associate Vatsal Gaur.
Economic Laws Practice acted as the legal advisors to Mayfield Fund Advisors while Nexus was advised by their in-house general counsel.
With this funding, Sohan Lal becomes India’s largest funded collateral management company, with the maximum number of institutional private equity investors as the shareholders, according to Amarchand release.
Sohan Lal, promoted by Sandeep Sabharwal, operates in the post-harvest agri-logistics ecosystem and provides agri-commodity warehouse management and procurement solutions to farmers, processors, traders, agri-exchanges and government, reports ET.