InnoVen Capital, the venture debt and specality lender, today said it helped disburse over Rs 275 crore loans in 2015.
"This year (2016), InnoVen Capital aims to provide fresh funding in excess of USD 65 million," the company said.
In 2015, the company saw 100 per cent growth over the previous year in terms of number of clients and loan volumes.
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Definite roadmap needed to reinvent co-op institutions:Nabard * A two-day national conference on Cooperatives with the theme "Regaining leadership in Agriculture Finance" being organised jointly by NABARD and Bankers Institute of Rural Development (BIRD), concluded today with panelists chalking out a definite road map for reinventing as well as repositioning the cooperative institutions.
In his key note address Deputy Governor RBI R Gandhi stressed the need for the cooperative sector to address the repositioning issue with a socio-economic angle and think in terms of extending support to the self help groups in a big way.
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Prashant Modi new President of ICC India * International Chambers of Commerce India (ICC) today said Prashant Modi, Managing Director, Great Eastern Energy Corporation, has taken over as the new President of the industry body.
Subhrakant Panda, Managing Director, Indian Metals & Ferro Alloys has taken over as the new Vice President of the chamber.
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Dredging Corp reports Dec qtr net profit at Rs 7.97 crore * Dredging Corporation of India Ltd today reported 9.47 per cent rise in standalone net profit at Rs 7.97 crore for the quarter ended December 31, 2015.
The company had posted a net profit of Rs 7.28 crore in the year-ago period, it said in a filing to BSE.
The company total income from operations declined to Rs 161.40 crore, over Rs 185.21 crore in the year ago period.
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Tata Structura celebrates 10 yrs of operation * Tata Structura, the brand of Steel Hollow Sections manufactured by the Tubes SBU of Tata Steel, celebrated 10 glorious years of operations in the industry.
At a commemorative event, Tata Steel launched two new innovative products, which are first of its kind in India, the company said in a statement.
Intellect narrows Q1 net loss to Rs 5.52 cr
* IT firm Intellect Design Arena today narrowed its consolidated net loss to Rs 5.52 crore for the June quarter compared to a loss of Rs 11.11 crore in the year-ago period.
The Chennai-based firm saw revenues grow 6.6 per cent to Rs 205.8 crore in the reported quarter from Rs 192.92 crore in the April-June 2015 quarter.
During the June 2016 quarter, Intellect received 12 deals,
including two large transformational digital wins, Intellect said in a statement.
The current funnel (active pursuits) is around USD 470 million, out of which USD 404 million is accounted for by 263 opportunities, it added.
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NIIT Tech COO Sudhir Chaturvedi quits
* IT firm NIIT Technologies today said its chief operating officer Sudhir Chaturvedi has put in his papers.
His next destination could not be ascertained.
"This is to inform that Sudhir Chaturvedi, COO, has resigned from the company to pursue other interests. His resignation has been accepted by the company and his last working day is September 9, 2016," NIIT Technologies said in a BSE filing.
His contribution to the company has been valuable and we wish him great success, it added.
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Morepen Q1 net profit up 60 pc at Rs 4 cr * Pharma firm Morepen Laboratories Ltd today posted 60.4 per
cent jump in net profit at Rs 4.01 crore in the first quarter of 2016-17 fiscal on higher sales.
The company had posted a net profit of Rs 2.50 crore in the year-ago period, it said in a BSE filing.
Net sales increased to Rs 116.72 crore in the April-June quarter of the 2016-17 fiscal from Rs 99.28 crore in the year-ago period.
Domestic sales increased by 20 per cent to 63.91 crore from Rs 53.40 crore, while exports grew by 15 per cent to Rs 52.81 crore from Rs 45.88 crore in the said period.
