Tata Capital to raise Rs 4,500 cr in private equity
Tata Capital, a subsidiary of Tata Sons, is targeting to raise $ 1 billion ( around Rs 4,600 crore) under its various private equity funds by December 2011.business Updated: Jul 15, 2010 00:10 IST
Tata Capital, a subsidiary of Tata Sons, is targeting to raise $ 1 billion ( around Rs 4,600 crore) under its various private equity funds by December 2011.
The Non-Banking Finance Company has already raised
$200 million (Rs 900 crore) from domestic market and now it is also looking international market to raise funds.
"So far the response from the foreign investors has been very positive and we expect to meet the target of raising $ 1 billion with in stipulated time," said Praveen Kadle, managing director and chief executive officer of Tata Capital, which registered revenue of Rs 1379 crore in 2009-10.
The company is raising money under four different private equity funds christened as Innovation, Growth, Special situation and Healthcare.
The company has started the process of fund raising in the international market early this month. "We would be focusing in the international markets primarily with our two funds — growth and healthcare," Kadle said.
Going forward, Company's growth driver will be corporate financing. "In the next five years, corporate financing will play important role in our growth," he added.
As at end-June, Tata Capital has a total balancesheet size of around Rs 13,000-crore.
Out of its total loanbook, nearly Rs 7,500-crore is corporate loans and around Rs 2,500-crore retail advances. Tata Capital's offerings include consumer and corporate finance, equity research, investment banking and private equity.