Tata Capital, a wholly-owned subsidiary of Tata Sons, plans to raise $350-500 million through the private equity route for deployment in mid-size companies, a top company executive said today.
"We are raising $350-500 million through private equity for deployment in mid-size companies. However, it would depend upon market conditions. We are looking at both domestic as well global markets to raise this fund," Tata Capital Managing Director Praveen P Kadle told reporters, while unveiling the company's brand identity here.
The proceeds would be deployed in the manufacturing and services segments, mid-size companies and growth areas, he said.
"We are on track with our growth plans as we continue to remain bullish on the long-term potential of the Indian financial services sector. We are looking at inorganic growth."
Elaborating on the company's capex plans, Kadle said: "We are looking at various options like commercial paper, private placement and the ECB route for NBFCs to raise funds."
The company has already raised around Rs 5,000 crore in the last nine months despite severe constraints, he said.
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It is also discussing with Equifax Inc and Crisil to develop plans to create a credit information company in India.
The establishment and associated timing of the credit information company are contingent on regulatory approvals from the RBI and other regulatory authorities, Kadle said.