Business Daily from THE HINDU group of publications
Tuesday, Aug 11, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Tuesday, Aug 11, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Money & Banking
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NBFCs Web Extras - Overseas Borrowings Tata Capital to help cos raise resources from Japan Our Bureau Mumbai, Aug. 10 Tata Capital Ltd in association with the Japanese Investment Bank Mizuho Securities is eyeing opportunities to help Indian companies raise resources from Japanese retail investors via equity, debt and structured finance. “Good synergy and traction exists between our company and Mizuho. The Japanese retail market is strong. Indian companies can tap this opportunity to raise funds through equity, debt, and structured finance,” Mr Praveen P. Kadle, Managing Director and CEO, Tata Capital, said at a press meet. So far, Indian companies have been tapping the Japanese market for funds by placing Samurai Bonds with institutional investors. The Tata Capital-Mizuho Securities alliance, according to Mr Yutaka Endo, Deputy President and Board Member, Mizuho Securities, will assist international investors find investment opportunities in Indian equity markets and Indian investors’ investment opportunities overseas. Underscoring Japanese investment appetite for Indian markets, Mr Endo said, Shinko Securities, which is affiliated to the Mizuho Financial Group, has garnered investments aggregating to $1 billion for various schemes of Tata Asset Management Company. Shinko Securities and Mizuho Securities merged last year. Tata Capital, which is the wholly-owned non-banking finance company of Tata Sons, has five lines of business — corporate finance, consumer finance and advisory services, investment banking, private equity, and treasury advisory services.
Out of the NBFC’s outstanding lending portfolio of Rs 8,500 crore, corporate finance (short-term as well as long term) accounts for around 59 per cent of the total portfolio (or Rs 5,000 crore), consumer finance (Rs 2,000 crore) and investment in ‘AAA’ rated securitised paper of various finance companies (Rs 1,500 crore). “In the first four months of the current financial year, we have grown out assets by around 12 per cent. We hope to better this growth rate in the rest of this financial year,” said Mr Kadle. When asked about the possibility of the strategic partnership between the two entities getting further strengthened through equity participation, Mr Endo just said, “We have just started out partnership. We will have to make things happen.” “The time is ripe for Japanese investors to get interested in investment opportunities in India,” he said. More Stories on : NBFCs | Overseas Borrowings
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