TVS Capital and International Finance Corp, an arm of World Bank, have jointly invested 1.24 billion rupees ($24.81 million) in Indian rice processor, Dunar Foods.
Dunar, which is based in the northern Indian state of Haryana, exports basmati rice to Middle East, Europe and the U.S., a statement issued by Dunar and TVS Capital said.
IFC, along with U.S. private equity firm, Warburg Pincus, recently invested $50 million in a non-banking finance company, Au Financiers..
Source: Reuters