Its fully-owned subsidiary, K S Natural Resources (KSNR), was awarded IHQ status by the Singapore Economic Development Board (EDB) on Tuesday - a first for Indian agri-based firm.

K S Oils managing director Sanjay Agarwal said at the conferring ceremony that the company hopes to expand its presence by acquiring 'a strong back-end supply chain both in India and abroad'.

He added that the IHQ will 'drive investment into Southeast Asia to build a global agri-company.'

The Singapore headquarters will be staffed with 30 to 40 employees and used as a base for the company's international trading and shiping activities.