Indo Biotech Foods (IBF) was incorporated on 28 Nov.'91. It was promoted by Dilip Dahanukar who also has interests in Good Value Marketing Kushal Diamonds, Yamuna Valley Rice Mills, etc. IBF is managed by chairman Dilip Dahanukar. It has three subsidiaries -- Indo Biotech Agro Products, Yamuna Valley Rice Mills and Veg Protein (India).
In Mar.'93, IBF came out with a public issue of 22.8 lac equity shares aggregating Rs 2.28 cr, to part-finance a project to produce 100% chemical-free environmentally safe food and to meet working capital margin. Total fund requirement was estimated at Rs 11.15 cr. The company, along with its subsidiaries, produces 100% chemical-free wheat flour, rice, poha, dal and oil. Its products are marketed under the Green World brand name. IBF is the first company in India to obtain the unique bar code number from the Europeon Article Numbering (EAN) association. This will enable it to display and sell its packed products in developed countries. The company earned Rs 36 lakh in foreign exchange & Rs 67 lakh by export.