The fund will be used to invest in debt or mezzanine instruments of companies having future opportunities, it said.
"India Vision Fund will primarily concentrate on those companies which can be revived through proper nursing. The Fund will purchase assets/loans and invest by way of debt and other instruments, which will be taken over from corporates, banks, NBFCs, or even Asset Reconstruction Companies (ARCs)," the company said in a statement.
The Fund has already initiated talks with corporates and banks, and is specifically looking at those opportunities where resurrection is possible, it said.
"We have approached many investors, both domestic and international, and they have expressed keen interest to invest. Some of them are at an advanced stage of investment", the fund's CIO Nalin Kumar said.
The Fund will also facilitate banking system to address many of the challenges banks are facing at this juncture, the company said.
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