Investment management company StepTrade Share Services has received a Special Economic Zone (SEZ) approval to set up its India fund office at GIFT city, Gandhinagar. This will enable the company to launch a ₹1,000 crore India-focussed fund in the next six months after FME and scheme approval, stated an official release here on Monday.
This India fund will have a special focus on the small and micro-cap segment. Investments in small and mid-cap funds can provide investors with diversification benefits and expose them to a broad range of companies across different stages of growth. Foreign investors will be able to tap into the Indian markets via the StepTrade India fund.
Investors will benefit from a tax-free return on investment, without the risk of currency fluctuations, the release added. “Contributing to the growth of India is our foremost goal and launching the fund at Gift City is a step towards that goal,” said Kresha Gupta, Founder and Director, StepTrade Share Services, which has its own AIF CAT I, II & III and PMS as well.
The India fund will enable founders and promoters to leverage the advantages offered by the SEZ framework and Gift City’s infrastructure. StepTrade Share Services also aims to facilitate capital access and foster investment in SMEs which will contribute to their expansion and success.