| StarAgri Warehousing and Collateral Management Limited | |
| Foundation: | April 2006 |
| Location City: | Mumbai |
| Location Country: | India |
| Industry: | Agribusiness |
| Services: | Agriculture Warehousing |
| Num Employees: | 550[1] |
StarAgri is an India based agricultural marketing company providing warehousing, procurement and Collateral Management of Agri-Commodities. StarAgri was established in April 2006 by former ICICI Bank associates and has a presence at 190 locations across 16 Indian states.[2] It has 800 agri commodity warehouses under its control, with a cumulative capacity of around 1.2 million metric tons.[3] The number of employees at the company is over 500.[1] 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.[4]
StarAgri was founded in April 2006 by four former ICICI associates: Suresh Goyal, Amith Agarwal, Amit Mudawala and Amit Khandelwal.[4] [5] 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.
StarAgri has tie-ups with 23 banks and financial institutions that give farmers credit, using agri-commodities in the warehouses as collateral.[6]
In 2007, the company launched its warehousing services with Rs 303 crore credit facility from ICICI Bank, for warehouse receipt-based funding.[7]
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.[8] [9]
In 2012, StarAgri collaborated with State Bank of India, for farmer funding and collateral management.[10] It also entered into a partnership with Dena Bank in the same year for warehousing receipt funding.[11]
In 2013, the company signed Memorandum of Understanding with Corporation Bank for providing finance against warehousing receipts.[12]
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.[13]
In July 2014, StarAgri entered into Memorandum of Understanding with Karnataka Bank for extending storage facilities to farmers and finance against the warehouse receipts.[14]
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).[15]