Wednesday, December 27, 2006

IDBI Bank plans Rs. 1000-crore private equity fund

IDBI Bank is planning to float a private equity fund. The size of the fund will be Rs. 1000 crores and will invest in mid-sized companies, particularly those in the power sector.

The capital markets division of IDBI, IDBI Capital Markets, already has a Rs. 50-crore private equity fund rolling, raised from internal accruals. It made a Rs. 10 crore-investment to pick up about 5% stake in Coimbatore-based textiles company Vijayeshwari Textiles.

Read the articles from The Economic Times, The Financial Express and Zee News.

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