Anirit Ventures to expand AgriTech business with a fund-raising plan

New Delhi: Anirit Ventures Ltd, a subsidiary of Oilmax Energy, has announced its strategic expansion plans along with appointment of Chief Executive Officer. The Company has also announced recapitalisation plan with board approving fund raising by Right Issue of shares.

The company intends to operate into green technology field related to carbon capture and reduction. It is exploring development of green technologies and undertake cutting-edge projects to deploy and implement its R&D-driven innovations.

The company has announced acquisition of Anirit Agritech Pvt Ltd, which is into agritech business and currently focusing on controlled weather farming. Anirit Agritech is developing a controlled weather farm near Nashik. Anirit Agritech is working on establishing this farm as a specialized research and development facility to develop and commercialize innovative solutions for controlled weather farming. Through this acquisition, the company will enter into an emerging business of agritech and future of farming i.e. controlled weather farming.

Under Oilmax’s strategic direction, Anirit Ventures Ltd will expand its business in agritech and will not only focus on advanced technologies with strong potential, ultimately commercializing solutions for industry but also explore other related business-like supply chain, agro forestry and agro tourism.

To spearhead its business expansion, the Company has appointed Mr Sadhan Banerjee as a Chief Executive Officer. Mr Sadhan Banerjee has over 30 years of experience in various organisations in leadership role and have incubated multiple new ventures to drive business growth.