Agri Business

Acewin Agriteck plansto raise ₹300 crore

Our Bureau Chennai | Updated on September 18, 2019 Published on September 18, 2019

Acewin Agriteck Ltd, a listed company that is into software and aqua culture trading, plans to raise nearly ₹300 crore through equity or debt or a mix of both to fund an integrated project for aquaculture and agriculture farming and processing.

The project planned on nearly 300 acres at Ponneri in North Chennai will have freshwater fish; prawn farming and processing; fruits and vegetable farming; poultry and goat farming and dairy farming. The project is expected to be launched next year, said Jesudas Premkumar, Managing Director, Acewin Agriteck, which reported revenue of nearly ₹22 crore last financial year.

At present, the promoters hold nearly 70 per cent of shares in the company, and the balance is with the public. The company will dilute dilute promoters’ without giving up the majority. “We have just started talks with potential investors,” he told newspersons.

The company plans to take on lease an existing hatchery with a capacity to produce annually nearly 750 million prawn and fish seeds, he said.

Published on September 18, 2019
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