Kolkata, Aug 17 (IANS) Tata Capital is planning to launch a subsidiary to provide infrastructure finance by the end of this fiscal by hiving off its infrastructure finance segment, a top company official said here Tuesday.
‘A separate company will help us raise long term overseas funds for the infrastructure sector,’ Praveen P. Kadle, managing director of the financial services arm of the Tata group, said at a press conference.
The Tata Sons subsidiary, which is widely identified as the vehicle for the group’s future banking plans, is also
preparing to launch its foreign exchange business as an authorized dealer.
But Kadle did not mention any time frame for initiating the venture.
He said the company is also planning to launch a debt fund.
‘We are looking at launching a debt fund. We are working on it,’ said Kadle.
With capital base of Rs.2,200 crore, Tata Capital has 105 branches spread across 68 locations in the country. It has two offices abroad, in Singapore and London.
