Online edition of India's National Newspaper
Thursday, Jul 03, 2008
ePaper | Mobile/PDA Version
Google



Business
Nxg

News: ePaper | Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Opinion | Business | Sport | Miscellaneous | Engagements |
Advts:
Retail Plus | Classifieds | Jobs |



Business Printer Friendly Page   Send this Article to a Friend

TVS, Shriram join hands

Corporate Reporter

To launch venture capital fund with initial corpus of Rs. 500 crore

— PHOTO: BIJOY GHOSH

SYNERGISING GROWTH: (from left) R. Thyagarajan and Lakshmi Narayanan, directors, and Gopal Srinivasan, Chairman and Managing Director, TVS Capital Funds, at a press conference in Chennai on Wednesday.

CHENNAI: TVS Group and the Shriram Group have joined hands to launch TVS Shriram Growth Fund. The scheme is registered with SEBI and is managed by TVS Capital Funds, an asset management company founded by Gopal Srinivasan of the TVS Group. The sponsors of the fund are the TVS Group and Shriram Group.

Addressing presspersons here on Wednesday, Gopal Srinivasan, Chairman and Managing Director, TVS Capital Funds, said the fund was established with a vision to develop and nurture India’s mid-cap businesses, especially businesses from emerging cities, into world class companies.

Mr. Srinivasan said, “the fund raising activity for TVS Shriram Growth Fund is nearing completion of its target mobilisation of Rs.500 crore from institutional investors, high networth individuals, sponsors, the board of directors and the team associated with the fund.

R. Thyagarajan, founder of Shriram Group, said the fund would target mid-cap companies with revenues of Rs. 30 crore to Rs. 250 crore with proven business models that require growth equity capital.

Focus on Tier-II cities

The investment will be in sectors with consumer consumption theme with focus on emerging Tier-II, Tier-III cities and metros and the investment size in each company will be Rs. 10 crore to Rs. 50 crore.

Suresh Raju, Executive Director, said, “With a large and growing consumer base, rising incomes and changing lifestyles, India is expected to become the world’s fifth largest consumer market over the next couple of decades, and this fund is designed to tap this opportunity.

It is also planned to raise an additional corpus of $125million (Rs. 500 crore) over the next twelve months from offshore investors to attain a total fund size of Rs. 1000 crore.

Printer friendly page  
Send this article to Friends by E-Mail



Business

News: ePaper | Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Opinion | Business | Sport | Miscellaneous | Engagements |
Advts:
Retail Plus | Classifieds | Jobs | Updates: Breaking News |


News Update


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | Publications | eBooks | Images | Home |

Copyright 2008, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu