KARNATAKA SETS VENTURE CAPITAL FUND ROLLING
Article Abstract:
The Karnataka government has launched the Rs15-crore Karnataka Information Technology Venture Capital Fund (Kitven), which will invest between Rs25 lakh to 1.25 crore per investee company. Later the size of the close-ended fund will be increased to Rs100 crore. The Small Industries Development Bank of India (Sidbi) has brought in Rs7.50 crore while KSIDC and Karnataka State Financial Corporation (KSFC) have each contributed Rs3.50 crore to the fund. Though the preferred form of investment is equity, other means like redeemable, convertible debentures, conditional loans and conventional loans will also be considered. Around 51 percent of the corpus will be reserved for the small scale units. (gsh)
Comment:
New Rs15-crore venture fund to be launched by Karnataka government
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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CHOLAMANDALAM CAZENOVE PLANS MONTHLY RETURN FUND
Article Abstract:
Cholamandalam Cazenove AMC Ltd (CCAL), of the Murugappa Group of Chennai, plans to float its first regular monthly income fund, Chola RMI '98. The five-year close-ended scheme aims to generate regular monthly returns by investing up to 80 percent of the corpus in debt instruments and 20 percent in equity and money market instruments. The fund is targeted at individual investors, corporates, trusts, non-resident Indians, foreign institutional investors and overseas corporate bodies. CCAL plans to mobilise Rs20 crore through the scheme. The scheme will open for subscription from July 1998. (gsh)
Comment:
Is planning to float its first regular monthly income fund Chola RMI '98, a five-year close-ended scheme
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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CHOLAMANDALAM FIN ON TRACK
Article Abstract:
Cholamandalam Finance, a part of the Murugappa group, increased its turnover by 3 percent but net profit fell by about 10 percent to Rs19.81 crore in the year ended June 1998 against Rs22.10 crore in 1996-97. It has a paid-up equity capital of Rs16.93 crore which gives an earnings per share of Rs11.7. the company has maintained its dividend at 45 percent. Its scrip is currently quoted at Rs30. The company has an MAAA rating from ICRA and FAA+ rating from Crisil. (khr)
Comment:
Increases turnover by 3% but net profit falls by about 10% to Rs19.81 crore in year ended 6/98 vs Rs22.10 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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