Star Agri Picks Up Stake in NCDEX
Star Agriwarehousing and Collateral Management (Star Agri) has picked up a 1.38% stake in commodity exchange NCDEX from Renuka Sugars for .` 12.26 crore, reports Our Bureau. Star Agri is the largest warehouse service provider to NCDEX. Out of its total portfolio of 750, close to 300 warehouses are accredited with the commodity exchange. Renuka recently pared its 12.5% stake in NCDEX by selling 7.5% to different investors including NSE and IFFCO. Started in 2006 by four former rural lending execs, Star Agri is among the largest post harvest agri-solutions provider offering modern and mechanised rural supplychain infrastructure.