Food Agribusiness Equity

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                                                                                      A P P R E C I A T E
                                                                                      C A P I T A L
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                            Sponsor    Lead Investors

FOOD &               As Indian economy transcends its US $ 1 trillion benchmark, agriculture is transcending to agribusiness.
AGRIBUSINESS         India's transition from third largest agrarian economy to that of world's food factory would entail huge
IN INDIA             investments.

                     The commercialization of agriculture into agribusiness is supported by both the fast growing domestic
                     market and the increasing acceptability of Indian food products in the international market. While the total
                     agricultural & food products exports has increased to ~US $ 10 billion in the financial year 2007-08, the
                     domestic demand for food products is estimated to be US $ 191 billion which is growing at about 7.8% per
                     annum. The paradigm change in food consumption driven by the surging per capita income, demographic
                     and lifestyle shifts, increasing brand consciousness and low per capita consumption of processed foods
                     present a sustainable investment opportunity.

                     Besides capital, realizing India's potential in agribusiness would require an in-depth understanding of the
                     international farming practices, technologies, application of food safety norms, global market linkages
                     coupled with the thorough appreciation of indigenous knowledge and practices. Rabobank Group is
                     uniquely positioned as not only a provider of capital, but with its knowledge based approach to agribusiness
                     and with a successful presence in India for a decade, to enable the Indian agribusiness companies fully
                     realize their inherent potential.


 Agribusiness                        Agribusiness

 Land & labour                                                                           Food retail
                 Farm               Trade &          Processing       Wholesale
                 Production         Distribution                      & trade                                  Consumers
 Farm inputs                                                                             Food service

                                                                       Non food
THE INDIA       India Agri Business Fund Ltd, a Fund with a Committed Capital of US $ 100 million (+ green shoe of US $ 20
AGRI BUSINESS   million) is the first private equity fund focused on the Indian food and agribusiness sector. Conceptualized
FUND            and sponsored by Rabobank with a 25% share of committed capital, it has been invested in its first closing
                by the IFC, FMO and DEG as its 3 Lead investors (each with a US $ 20 million commitment), collectively
                imparting AAA character to the Fund. The Second Closing of the Fund is due within 12 months of the First

                The Fund is an extended commitment of Rabobank and the three Lead investors to Indian food and
                agribusiness sector and is their first such fund in an emerging market. The Fund will focus on the fastest
                growing sub sectors in the Food & Agribusiness space.

                The Fund has been incorporated as a limited liability company in Mauritius. It is registered as Global
                Business License Category I with Financial Services Commission, Mauritius. Rabo Equity Management
                Company Limited will be the Manager to the Fund and Rabo Equity Advisors Private Limited will be the

                The Board of Directors of the Fund will have an Advisory Committee to consider all policy issues and will
                have nominees of the Sponsor as well as Lead/Strategic Investors.

SPONSOR &       Rabobank is a Dutch bank with a special focus on Food & Agribusiness worldwide. Rabobank has over 9
LEAD            million customers in 39 countries; with assets of over US $ 700 billion globally. Rabobank is among the
INVESTORS       fifteen largest financial institutions in the world in terms of Tier I capital & is the world's only AAA-rated (S&P,
                Moody's) financial institution in the private sector, having held that rating since 1984.

                IFC a member of the World Bank Group, fosters sustainable economic growth in developing countries by
                financing private sector investment, mobilizing private capital in local and international financial markets,
                and providing advisory and risk mitigation services to businesses and governments.

                FMO is a Dutch entrepreneurial development bank with a large investment portfolio making it one of the
                largest bilateral development banks worldwide. FMO's mission is to stimulate sustainable economic growth
                and optimize development impact in emerging markets.

                DEG member of the KfW banking group (100% owned by Govt. of Germany), has been financing and
                structuring the investments of private enterprises in developing and transition countries for more than 40
                years. DEG is one of the largest European development finance institutions for the promotion of the private
INVESTMENT   Focus Sectors:               All sub-sectors of food and agribusiness and agri-infrastructure
             Stages for Investment:       Expansion, growth, buy-out/in, mezzanine, PIPE

             Investment size:             Minimum: US $ 3 million and Maximum: US $10 million

             Role sought:                 Significant minority; active role on Board of Directors

             Compliances:                 Environmental & Social Guidelines; Local Laws and Regulations

             Investment route:            Foreign Direct Investment (FDI)

SECTOR       Fund can invest in all sub sectors related to Food & Agribusiness and Agri Infrastructure, for example
             Food & Agribusiness:

             Seeds, Food grains, Oil seeds & edible oil, Non-alcoholic beverages, Alcoholic beverage (limited to beer),
             Dairy & dairy products, Poultry, Fruits and vegetables (fresh & processed), Processed foods, Food
             ingredients, Confectionary, Fishery & seafood, etc.

             Agri infrastructure:

             Post harvest infrastructure, Warehousing, Food parks and agri-export zones, Cold storages and cold chain
             logistics, Terminal markets, etc.

             Rabo Equity Advisors Private Limited
INVESTMENT   Sachin Sharma : +91 9717594778
ADVISOR      Satish Kumar : +91 9717594777

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