The Motilal Oswal has recently announced that it has raised a huge amount of $125 million for their recently floated India Business Excellence Fund (IBEF). The company officials have stated that the IBEF fund would be catering to the requirements of small and medium enterprises and it would also invest $3 to $10 million in small and medium enterprises (SMEs). The officials also informed that the fund would invest the amount through private placements in the listed companies, pre-IPO transactions and in the companies that plan to go public within the next 3 to 5 years of time.
When contacted, the Director & CEO, Motilal Oswal Venture Capital Advisor Pvt Ltd, a subsidiary of the Motilal Oswal Group, Mr. Vishal Tulsyan said, "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". Mr. Tulsyan added that the plastics, power equipment, reverse logistics and IT Enabled Services are the four industries that the fund has invested.
Mr. Tulsyan also informed that the companies that belongs to the four industries where the fund invested include the companies like Time Technoplast in plastics, IMP Powers in power equipments, RT Outsourcing Services in reverse logistics and the Effort BPO in IT Enabled Services. In the words of Mr. Tulsyan, "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". He further said that a 30 per cent of the infrastructure spend of the $500 billion investment that is projected by the Planning Commission, would come from the private sector.
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| Posted : 1/21/2008 |
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