Processing .....please wait.. 
The article has been forwarded.... 
India Factoring and Financial Plans 
5 Billion Equity Infusion
Thursday, 09 February 2012, 20:11 Hrs
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 a50 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 a0.5 billion infusion in the next 3 to 4 months.
The Mumbai-based company's total outstanding assets currently stood at6.5 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 of5 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
Don't Miss ( 1-5 of 20 )
Post your Comment
All form fields are required.
Write your comment now
Beautiful and dress selection, please go to Dresses
Sign Up for DailyDose and Read the Day's Highlights
Email:
 |
SiliconIndia:
About Us |
Contact Us |
Help |
Community rules |
Advertise with us |
Sitemap
News:
Technology |
Enterprise |
Tech Products |
Startups |
Finance |
Business |
Career |
Magazine |
Dailydose |
News archive
Career:
Jobs |
Companies |
Mentorship |
Videos |
Career blogs |
Training Institute |
Freshers
Online courses:
Web developer |
Java developer |
CCNA training |
SEO |
SAS |
SQL server 2005 |
J2EE
Education:
MBA |
MCA |
Engineering |
Overseas Education |
Internship
Life:
Jokes |
Bookstore |
Relocate |
Marketplace
Cities:
Startup |
Real estate |
Finance
Send your and help us continue to improve SiliconIndia
© 2012 SiliconIndia all rights reserved
© 2012 SiliconIndia all rights reserved