Processing .....please wait.. 
The article has been forwarded.... 
India Factoring and Financial Plans 
5 Billion Equity Infusion
Friday, 10 February 2012, 16:41 IST
Kolkata: India Factoring and Financial Solutions, a joint venture between Punjab National Bank (PNB) and Malta-based FIMBank, is planning to receive 
5 billion equity infusion from its promoters by March 2014.
"We have just received a 50 crore capital infusion and estimations say we would require around 500 crore by March 2014," CEO Sudeb Sarbadhikary told reporters.
The company, which has already become a member of Brussels-based International Factors Group, is expecting a 0.5 billion infusion in the next 3 to 4 months.
The Mumbai-based company's total outstanding assets currently stood at 6.5 billion. Major shareholders in the frim include FIMBank (49 percent), PNB (30 percent) and Banca IFIS (10 percent).
"All the shareholders have committed capital infusion of 5 billion at different levels, according to the ratio of stake in the company," Sarbadhikary said.
The company currently has offices in Delhi, Bangalore, Kolkata, Chennai, Hyderabad and Ahmedabad. Its clientele includes Small and Medium Enterprises (SMEs).
Source: IANS
5 billion equity infusion from its promoters by March 2014.
"We have just received a 50 crore capital infusion and estimations say we would require around 500 crore by March 2014," CEO Sudeb Sarbadhikary told reporters.
The company, which has already become a member of Brussels-based International Factors Group, is expecting a 0.5 billion infusion in the next 3 to 4 months.
The Mumbai-based company's total outstanding assets currently stood at 6.5 billion. Major shareholders in the frim include FIMBank (49 percent), PNB (30 percent) and Banca IFIS (10 percent).
"All the shareholders have committed capital infusion of 5 billion at different levels, according to the ratio of stake in the company," Sarbadhikary said.
The company currently has offices in Delhi, Bangalore, Kolkata, Chennai, Hyderabad and Ahmedabad. Its clientele includes Small and Medium Enterprises (SMEs).
Source: IANS