Tata Capital, the financial services sector of the Tata Group, intends to end fund-raising for its US $350-400 million private equity fund during the following 6 months. This was stated by a senior official of the company.
Govind Sankaranarayanan, who is Tata Capital’s Chief Financial Officer said on Tuesday that the company is yet in the fund-raising mode. The company intends to finish it within the subsequent 6 months approximately.
Last year, the company had declared last year that it had introduced a US $350-million private equity fund. It had declared that it would bring in anchor investment in the enterprise and had proposed to access the local and international resources for bringing in funds.
Tata Capital was open to investing in numerous sectors. Sankaranarayanan said that the company is not biased towards or against any sector and would spread its investments across many sectors. The company was also ready to look at mid-market companies and would not invest the whole amount in one shot but rather in bits and pieces.
Along with private equity, Tata Capital also has involvement in retail, corporate and building and infrastructure financing, along with the securities business.
As of now, the company is in the process of enhancing its consumer and housing-finance loan business. To do that, it is establishing outlets in 71 cities throughout India.
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