Indian finance minister Nirmala Sitharaman launched an alternative investment fund for export-oriented small and mid-sized companies on August 21. The 'Ubharte Sitaare' fund size is ₹250 crore with a green shoe option of ₹250 crore.
Jointly sponsored by Exim Bank and the Small Industries Development Bank of India (SIDBI), the fund will invest by way of equity and equity-like products in export-oriented units (EoUs), both in the manufacturing and services sectors.India launched an alternative investment fund for export-oriented small and mid-sized firms on August 21. The ₹250-crore 'Ubharte Sitaare' fund with a green shoe option of ₹250 crore is sponsored by Exim Bank and the SIDBI. It will invest by way of equity and equity-like products in export-oriented units, both in the manufacturing and services sectors.#
The Ubharte Sitaare Programme (USP) identifies Indian companies that are future champions with good export potential, Exim bank said on its website. An identified company should have potential advantages by way of technology, product or process. It can be supported even if it is currently underperforming or may be unable to tap its latent potential to grow.
The programme diagnoses such challenges and provides support through a mix of structured support covering equity, debt and technical assistance.
Exim Bank along with 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.
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