Business Daily from THE HINDU group of publications
Thursday, Jan 18, 2007
ePaper
Business Daily from THE HINDU group of publications Thursday, Jan 18, 2007 ePaper |
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Markets
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Stocks Money & Banking - NBFCs Our Bureau
Mumbai , Jan. 17 The Specified Undertaking of the Unit Trust of India (SUUTI) wants to divest 36.58 per cent stake in SICOM Ltd, the Maharashtra Government controlled non-banking financial company, which offers fund-based and non-fund based products and services to the companies in the private and public sector and government bodies. Currently, the Maharashtra Government hold 49 per cent stake in SICOM, UTI 40 per cent, financial institutions 6.5 per cent, corporates 2.5 per cent and employees 2 per cent. For the year ended March 31, 2006, SICOM posted a total income of Rs 156 crore and registered a profit before tax of Rs 40 crore. Its gross assets are at Rs 1,924 crore and its net worth Rs 276 crore. SICOM's main thrust are lending, asset management, and advisory services. Its lending activities are focussed on SME and infrastructure sectors. Its usually lends in the range of Rs 15-100 crore to the SMEs. Through its asset management services, SICOM has been providing relief, concession, and exit options to some of the sick SMEs in the State. SICOM has also been providing techno-economic viability studies, detail project appraisals for both small and large projects and in some cases acquiring land on behalf of corporate to set up large projects.
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