Business Daily from THE HINDU group of publications
Saturday, Jan 19, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Saturday, Jan 19, 2008 ePaper | Mobile/PDA Version |
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Markets
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Financial Services Corporate - Overseas Borrowings Our Bureau Mumbai, Jan. 18 Motilal Oswal has raised $125 million for their recently floated India Business Excellence Fund (IBEF) that would cater to the requirements of small and medium enterprises. IBEF would invest $3 to $10 million in small and medium enterprises (SMEs) through private placements in listed companies, pre-IPO transactions and in companies that plan to go public in the next 3 to 5 years’ time. Planning Commission“Created in January 2007, IBEF has already picked up stake in four companies by deploying $21 million (17 per cent) of the total corpus and the entire fund will be invested in 12 to 18 months’ time,” said Mr Vishal Tulsyan, Director & CEO, Motilal Oswal Venture Capital Advisor Pvt Ltd, an arm of Motilal Oswal Group. The four industries that the fund invested belong to plastics, power equipment, reverse logistics and IT Enabled Services and the companies are Time Technoplast, IMP Powers, RT Outsourcing Services and Effort BPO respectively. “Real Estate and infrastructure are key sectors that are going to attract the private equity investment compared with the past favourites, the IT and IT Enabled Services,” Mr Tulsyan said adding 30 per cent of the infrastructure spend of $500 billion investment projected by the Planning Commission will come from the private sector. More Stories on : Financial Services | Overseas Borrowings
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