The company is also firming up plans to tap the capital market with a maiden issue in 2002 to part-finance its expansion plans.

Global Green has an investment plan of Rs 75 crore which includes enhancing the capacity through acquisitions and brand development. The investment need will be met partly through the promoter's equity, debt and private equity participation. The company plans to enhance its processing capacity to around 10,000 tonnes of vegetables and aims to achieve a turnover of Rs 500 crore in five years. The company is also setting up a dedicated food service division to service this rapidly growing sector, looking for the assurance of world-class quality delivered at their door-steps in India, Global Green's chief operating officer, Debashis Mitra said.

"We intend to tap the capital market only after the company makes its maiden profit, which is expected to be by June 2002," Mr Mitra added. Global Green has agreed to take over all the liabilities of SAIL and in addition pay a token consideration of Rs 50 lakh for Tata Tea's stake in the company.

Global Green also acquired VST Natural Products from VST Industries last year from VST Industries and the current acquisition has made Global Green the most diversified horticulture company in India with a range of products including the largest range of gherkins, baby corn, white onions, jalapeno, paprika, chilly, oleoresins, mushrooms and capsicum. The company exports these products to countries including the US, UK, germany, Korea, Australia, New Zealand. Global Green is the only Indian company to be selling value-added vegetable products directly to supermarkets in Europe on a weekly basis, through its European subsidiary, Tify International.

The company has also launched a range of specialty food in India including gherkins, olives, fruit conserves, diet fruit spreads and dessert sauces under the brand name `Tify', which it is selling through 300-odd outlets in 12 major cities. It intends to extend this portfolio shortly. It is targeting the top SECA/A + households with its `Tify' range and expects it to become a leading specialty foods in India and its neigbouring countries, using its world-class quality standards to bring global foods to India.Tata Tea took over Saptarishi in 1996 as part of its diversification plans. However, a decision to stick to its core business of tea and coffee, Tata Tea divested its stake in the company in favour of Global Green.