Fursa Mauritius picks up 43% stake in Gayatri Starchkem

Hyderabad: Fursa Mauritius, an investment fund, has picked up a 42.63 per cent equity in the Hyderabad-based Gayatri Starchkem for Rs 18.5 crore.

The fund, an arm of New York-based Fursa Alternative Strategies, has also decided to further invest Rs 35 crore for expansion and modernisation of the existing production facilities.

According to a press release, Mr Parth Gandhi and Mr Jayendra Shah have been taken on the Board of Gayatri Starchkem Ltd. The company, which manufactures starch, sorbitol and allied products from corn (maize) has its production facilities in Sadashivpet in Medak district of Andhra Pradesh.

Post this acquisition, the promoters of Gayatri Starchkem will retain an equal equity of 42.63 per cent, according to Mr T. Sandeep Reddy, the main promoter.