Finance minister Nirmala Sitharaman will launch an alternative investment fund for export oriented small sized companies on Saturday. The 'Ubharte Sitaare' fund size is ₹250 crore with a green shoe option of ₹250 crore.
The fund will also have a greenshoe option of Rs 250 crore.
There are over 100 potential proposals from different sectors including pharma, auto components, engineering solutions, agriculture, and software. A press release in this regard states that Ubharte Sitaare Programme (USP) identifies Indian companies that have the potential to be future champions in the domestic arena while meeting global demands and standards.
There are over 100 potential proposals from different sectors including pharma, auto components, engineering solutions, agriculture, and software.
The fund, collectively sponsored by Exim Bank and SIDBI, will invest by way of equity, and equity like products in export oriented units, both in the manufacturing and services sectors.
According to a press release, Exim Bank's Ubharte Sitaare Programme (USP) identifies Indian companies that have the potential to be future champions in the domestic arena, while meeting global demands.
Exim Bank as well as SIDBI has developed a robust pipeline of over 100 potential proposals across a range of sectors, such as pharma, auto components, engineering solutions, agriculture and software.