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Industrial Finance Corporation of India (IFCI), the country's oldest financial institution in association with Sycamore Ventures, a global investment firm announced to set up a $500-million about Rs 2,250 crore infrastructure fund. As IFCI is the principal sponsor to the fund, it has committed to invest 10% of the total capital of the fund with a minimum commitment of $50 million.
The fund will be registered with SEBI as a venture capital fund and will raise capital from domestic and overseas investors. Foreign subscribers will invest in the fund through a Mauritius fund with domestic subscribers investing directly in the fund. The fund intends to consummate investments in equity or equity related instruments of infrastructure projects or holding companies, with sustainable cash flow and potential for significant long-term capital appreciation. The fund's focus includes all forms of power generation, transmission and distribution, gas distribution, coal mines, roads, railways, ports and airports.
IFCI was established with an intention to provide long-term finance needs of the industrial sector. It got listed in the year 1993 changed its status from statutory corporation to a company. It founded and developed various institutions namely ICRA for credit assessment rating, Tourism Finance Corporation of India (TFCI) for promotion of the hospitality industry, among others.
Sycamore Ventures is a venture capital firm specializing in expansion and growth investments in mid-size companies in the later stages. The firm seeks to invest in information technology, consumer, bio-pharmaceutical, manufacturing, and media. It seeks to make investments in companies located in Asia with a focus on Greater China and India and the United States.
| Company Name | CMP |
|---|---|
| Power Finance Corp | 492.70 |
| REC | 537.65 |
| Indian Railway Finance | 177.80 |
| Satin Creditcare | 220.20 |
| MAS Financial Serv | 288.00 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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