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StarAgri offers comprehensive, end-to-end, value-chain-integrated agricultural services designed to empower farmers and agribusinesses. StarAgri was established in April 2006 by former ICICI Bank associates and has a presence at 379 locations across 19 Indian states. It has 2000+ agri commodity warehouses under its control, with a cumulative capacity of around 5.2 million metric tons. The number of employees at the company is over 500.StarAgri has five post-harvesting focus areas: agri-warehousing, procurement, collateral management, lab testing and logistics. A bulk of its revenues (65%) are derived from warehousing services.

History

StarAgri was founded in April 2006 by four former ICICI associates: Suresh Goyal, Amith Agarwal, Amit Goyal and Amit Khandelwal. The company was formed with an initial paid-up capital of Rs.5 lakhs. The paid-up capital was raised to Rs.50 lakhs in 2007–08.

Tie-Ups

StarAgri has tie-ups with 24 banks and financial institutions that give farmers credit, using agri-commodities in the warehouses as collateral.

In 2007, the company launched its warehousing services with Rs 303 crore credit facility from ICICI Bank, for warehouse receipt-based funding.

In 2009, StarAgri tied up with Axis Bank and Punjab National Bank, for collateral management services. During the same year, the company also entered into a strategic alliance with NCDEX as a warehousing service provider.

In 2012, StarAgri collaborated with State Bank of India, for farmer funding and collateral management. It also entered into a partnership with Dena Bank in the same year for warehousing receipt funding.

In 2013, the company signed Memorandum of Understanding with Corporation Bank for providing finance against warehousing receipts.

In February 2014, StarAgri tied up with Canara Bank. The partnership is to assist farmers in financing their requirements at all stages of the supply chain, ranging from pre-harvesting to the marketing and export stages.

In July 2014, StarAgri entered into Memorandum of Understanding with Karnataka Bank for extending storage facilities to farmers and finance against the warehouse receipts.

Taaza Plaza is a Public Private Partnership (PPP) between Star Agriwarehousing & Collateral Management Ltd. (StarAgri) along with Fuzion Inc. Pvt. Ltd. (Fuzion) and the Maharashtra State Agriculture Marketing Board (MSAMB).

References

1. ^ "This Rajasthan-based rural service provider has profited by helping farmers". businesstoday.in. April 28, 2013.
2. "IDFC Private Equity announces investment of INR 150 crores in Staragri Warehousing and Collateral Management Ltd" (PDF). idfc.com. Retrieved 2014-03-03.
3. "StarAgri Warehousing and Collateral Management Wins in Star SME Agriculture (small) category Ltd" (PDF). idfc.com. Retrieved 2014-03-03.
4. ^ "StarAgri: Building storage capacities & much more". moneycontrol.com. Retrieved 2014-03-03.
5. "For the sake of farmer's harmony!". thesmartceo.in. Retrieved 2014-03-03.
6. "It may hold commodities worth Rs 1,500 crore in its warehouses, but this company's services extend way beyond storage". forbesindia.com. Aug 27, 2013. Retrieved 2014-03-03.
7. "History & Milestones". staragri.com. Retrieved March 4, 2014.
8. "Inspiring Indian Entrepreneurs". tamindia.com. August 1, 2012. Retrieved 2014-03-03.
9. "Empanelled Banks and Financial Institutions". staragri.com. Retrieved March 4, 2013.
10. "SBI, StarAgri tie-up for farmer funding and collateral management". moneylife.in. September 13, 2012. Retrieved 2014-03-03.
11. "Dena Bank, Star Agri partner for warehousing receipt funding". thehindubusinessline.com. June 18, 2012. Retrieved 2014-03-03.
12. "Corporation Bank Inks Pact with M/s Star Agri Warehousing and Collateral Management Ltd. for providing finance against Warehouse Receipts". kannadigaworld.com. November 12, 2013. Retrieved 2014-03-03.
13. "Canara Bank, StarAgri tie up". thehindubusinessline.com. February 14, 2014. Retrieved 2014-03-03.
14. "Karnataka Bank enters into agreement with Staragri". moneycontrol.com. July 26, 2014. Retrieved 2014-05-26.
15. "Retail store on wheels 'Taaza Plaza' launched in Maharashtra". indiatimes.com. October 10, 2013. Archived from the original on March 4, 2014. Retrieved 2014-04-03.

• Agriculture companies of India