Introduction

VCCircle ICICI Bank Investment Summit 2010 : Agri , Food & Emerging Sectors

After the huge success of our Agri, Food & Emerging Sectors summit in June last year, which had participation of Ms Chanda Kochhar and the czars of Indian private equity & venture capital in addition to the leading corporates and emerging business in the space scouting for funds, VCCircle launches the 2nd edition of the initiative, which promises to be the largest platform for the food & agri vertical, congregating representatives from private equity, investment banking, agri and food businesses, legal experts and bankers who will give answers to the opportunities and challenges in India’s most attractive sector.

The private equity story in India has largely been an urban one with capital finding an easy way into predictable and established growth areas such as technology and consumer spend industries. The global financial meltdown, which did not spare many of these sectors that were very coupled with the world, shifted the focus of the investment community on recession-proof and non-cyclical sectors that were under-served and untapped.

Agriculture and food, the primary segment of the Indian economy both in terms of GDP contribution and labour force (accounts for one-fifth of our GDP and 56% of workforce), offers enough reasons for an active play by private capital. One, the market is both domestic and export-led. Two, the demand for farm and food products is ever-increasing as there is less and less land under cultivation globally. Three, there are many fundable and viable niches within the ecosystem of agriculture. Four, the loop of agribusiness and food business that starts from agri inputs such as seeds and fertilizers to the meal on your plate (farm-to-fork) offers a value chain that promises opportunities along the way such as logistics, cold storage, packaging, commodity markets and last-mile retail. Not only this, agricultural allied activities such as dairy, poultry and fisheries join the long list of unexplored niches in the ecosystem.

But, along with the upsides, there are manifold challenges that Indian agriculture faces such as fragmented land holdings, inefficient production techniques, gaps in storage and cold chain facilities, lack of market information to farmers, high fuel costs and monsoon dependency and so on. These challenges not only prove to be stumbling blocks for Indian agriculture, as a whole, but also limit the way capital flows into a few sub-segments of this sector. Consider some of the large deal activity in the agriculture and food space: Summit Partners made its debut in India with a $30-million investment in Krishidhan Seeds. Siva Ventures invests about $48 million in Ruchi Soya Industries. Morgan Stanley Private Equity Asia announced its first deal in India by picking up a minority stake in castor oil maker Biotor Industries Ltd for Rs 182 crore. Private equity major, Blackstone Group picked up a stake in Hyderabad-based seed maker Nuziveedu Seeds Ltd. Chennai-based agro solutions firm Sree Ramcides raised Rs 25 crore from ePlanet Ventures.

Clearly, there is a distinct skew towards deals in established niches within agriculture and food businesses such as fertilizers, chemicals, seeds and edible oils. Some of the other areas which are blinking on the PE radar are agri-biotech, food processing, cold chain and logistics, commodity exchanges, food and retail services, and organic farming.

What are the challenges that deal-makers face in terms of sourcing, deal closures and exits? Are there concerns on corporate governance in this sector? How do agri businesses view private equity? Is PE looking at only the tip of the iceberg? Which are the hot and which are the untouchable areas within agri and food business? Would the agri business prefer access to good debt structures and finance to private equity capital?

VCCircle Investment Summit 2010 has put together over two dozen representatives from private equity, investment banking, agri and food businesses, legal experts and bankers who will throw up answers to the opportunities and challenges in what could undoubtedly be India’s most compelling sectors to invest in.

So, grab a bite of this appetizing opportunity.


Agenda

8:00 am - 9:00 am
Tea & Registration

9:00 am - 9:10 am
Introduction Note - Sahad P.V., Founder & Editor, VCCircle Network

9:10 am - 9:30 am
Indian Agriculture: The Investment Landscape - Rajiv Sabharwal,Executive Director, ICICI Bank Ltd.

9:30 am - 10:00 am
Opportunities In The Indian Agri Food Chain - S Venkatraman, Senior Director & Head, Food & Agribusiness Research, Rabo India

10:00 am - 11:15 am
Panel I: Global Ambitions in Indian Agriculture: M&A, Consolidation and Financial Structuring
- Indian agri firms are increasingly going the cross-border M&A way to scale up and scout for emerging opportunities. So, when should you go for an M&A?
- What are the legal challenges and financial structuring options and products available for such transactions?
- What are the synergies you should look for?
- Are quasi-equity structures more attractive for this space?

Hemant Vora - General Manager, ICICI Bank Ltd. (Moderator)
Vijay Kumar Arora - Chairman, LT Foods
Ramakrishna Karuturi - MD, Karuturi Global Ltd.
Nalin Kumar - MD & Head, M&A and Corporate Advisory, Rabo India
Narendra Murkumbi - MD, Shree Renuka Sugars Ltd
Ajay Saraf - Senior General Manager, ICICI Bank Ltd.
Dinesh Shahra - MD, Ruchi Soya Industries

11:15 am - 11:40 am
Tea & Networking

11:40 am - 12:00 pm
My Favorite Stock Is Livestock: Animal Agriculture and the Future of Indian Farming - Balram Yadav, CEO, Godrej Agrovet Ltd

12:00 pm - 1:15 pm
Panel II: Farmgate To Fork: India’s Big Long Food Chain
- What are the various constraints and challenges in the journey of farm output from the farmgate to your plate mainly in sectors such as agri logistics (Cold Chains/Warehousing) and agri retail?
- What are the capacity gaps at the farm-fork level: Subsidies, agri inputs, market access and information, intermediaries, cold chain infrastructure and last-mile connect.
- What are the environmental, regulatory, policy and infrastructure interventions required to attract more private capital into this space? What are the capital-raising options?
- What are the emerging and winning models in dairy, edible oils, processed foods, ready to eat foods and restaurants? What kind of models attract funding easily?

Deepak Shahdadpuri - MD, Baer Capital Partners (Moderator)
Kevin Eikerman - Head, ADM India
Dev Lall - MD, Bakers Circle
Ajay Mariwala - MD, Vallabhdas Kanji Ltd.
Gaurav Mathur - MD, India Equity Partners
Sandeep Sabharwal - Founder, Sohan Lal Commodity Management
Sanjay Sancheti - Country Head, Olam International

1:15 pm - 2:15 pm
Lunch & Networking

2:15 pm - 3:15pm
Panel III: Emerging Trends in Agriculture
Weather Advisory, Online Commodity Trading, Modernised Irrigation Techniques
- Emerging Sectors: Weather advisory services, agri consultancy, online trading platform for crops.
- Sustainable agriculture/Organic farming: How big can it be?
- Innovation and modernization: New technology processes and techniques to increase agri output. Will it drive investments in the future?

Rajesh Srivastava - MD, Rabo Equity Advisors (Moderator)
Anuj Kumbhat - Executive Director, Weather Risk Management Services
Anjani Sinha - MD, National Spot Exchange Ltd
Ashok Motiani - CMD, Freshtrop Fruits Ltd
Dhanraj Bhagat - Partner, Specialist Advisory Services, Grant Thornton

3:15 pm - 4:00pm
Tea & Networking

4:00 pm - 4:20 pm
Legal Masterclass: FDI and M&A in Agri Sector - Regulatory Challenges - Kanti Mohan Rustagi, MD, Patanjali Associates

4:20 pm - 5:30 pm
Panel IV: Investment Appetite In Agri & Farm Sector
- What kind of deals are PEs scouring the market for?
- Are deals largely limited to agri input industries such as seeds, fertilizers, fine chemicals and farm tools?
- What role do entrepreneurs expect PEs to play?
- Is sourcing, structuring and exits a tad tougher in this space?
- Lack of corporate structures and governance: Is that a hurdle?
- First-generation entrepreneurs and family-owned businesses: Is that the profile of firms waiting to be funded?
- Banker’s Perspective

Gopal Srinivasan - Chairman, TVS Capital Funds (Moderator)
Nitin Deshmukh - CEO, Kotak Private Equity
Sushil Karwa - MD, Krishidhan Seeds
Pritam Shah - MD, Parag Milk Foods
Bhavesh Shah - Executive Director, JM Financial
Rahul Mehta - Director, Argonaut Private Equity
Sanjeev Mantri - General Manager, ICICI Bank Ltd.

5:30 pm - 5:40 pm
Concluding Remarks

6:00 pm onwards
VCCircle Unwind
VCCircle introduces Unwind, an informal networking zone over cocktails.

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3:30 pm - 5:00 pm
VCCircle Lounge
A new initiative from VCCircle where companies and investors can meet and network in a structured manner in a separate enclosure. Here 15 select companies can make a 5-minute elevator pitch to 15 select private equity investors and venture capitalists.

3:30 pm - 3:40 pm
Introduction Note - Mark Kahn, Executive Vice President, Godrej Agrovet Ltd.

3:40 pm onwards
Networking

This initiative is only open to companies or their representative investment banks and qualified investors. Write to us at register@vccircle.com for more details.


Speakers

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Ajay Mariwala

MD, Vallabhdas Kanji Ltd.
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Ajay Saraf

Senior General Manager, ICICI Bank Ltd.
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Anjani Sinha

MD, National Spot Exchange Ltd
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Anuj Kumbhat

Co-Founder & Executive Director, Weather Risk Management Services
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Ashok Motiani

CMD, Freshtrop Fruits Ltd
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Balram Yadav

CEO, Godrej Agrovet
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Bhavesh Shah

MD, JM Financial
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Deepak Shahdadpuri

Founder & MD, DSG Consumer Partner | @DSGCPvc
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Dev Lall

CEO & MD, Bakers Circle (India) Pvt Ltd
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Dhanraj Bhagat

Partner, Specialist Advisory Services, Grant Thornton
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Dinesh Shahra

MD, Ruchi Soya Industries Ltd
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Gaurav Mathur

Founder & MD, Invent Capital
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Gopal Srinivasan

Chairman & MD, TVS Capital Funds | @TVSCapitalFunds
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Hemant Vora

GM, ICICI Bank Ltd
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Kanti Mohan Rustagi

Founder, Patanjali Associates
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Kevin Eikerman

Head, ADM India
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Nalin Kumar

MD, Rabo India Finance Ltd.
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Narendra Murkumbi

MD, Shree Renuka Sugars Ltd
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Pritam shah

MD, Parag Milk Foods
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Rahul Mehta

Director, Argonaut Private Equity
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Rajesh Srivastava

Chairman & Managing Director, Rabo Equity Advisors Pvt Ltd
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Rajiv Sabharwal

Executive Director, ICICI Bank
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Ramakrishna Karuturi

MD, Karuturi Global Ltd.
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S. Venkatraman

Partner, Rabo Equity Advisors Pvt. Ltd.
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Sandeep Sabharwal

CEO, Sohan Lal Commodity Management
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Sanjay Sancheti

Country Manager, Olam Agro India
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Sanjeev Mantri

Head, Rural & Inclusive Banking, ICICI Bank Ltd
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Sushil Karwa

MD, Krishidhan Seeds
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Vijay Kumar Arora

CMD, LT Foods Ltd.

Our Sponsors & Partners

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Knowledge Partner
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Want to be part of it?

VCC Events opens up the avenues for participation. Join hands to be a part of India’s largest gathering of alternative investments leaders, industry stakeholders and Asia’s influential limited partners, general partners and marquee advisors. Your chance to actively participate and augment yourself as thought leaders.


Venue :

Taj Lands End , Mumbai

Taj Lands End , Mumbai

Contact: Business Attire

Distance: Byramji Jeejeebhoy Rd, Bandra West, Mumbai.


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