SICOM plans to float two funds to revive capital market business

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MoneySICOM, a non-banking finance company jointly owned by the Maharashtra government and US-based private equity fund JC Flowers, is planning to launch two funds that would invest in real estate projects and businesses with stressed balance sheets in order to revive capital market business.

According to reports, the two funds would mobilise over Rs 1,000 crore as initial capital, and the pool would be used to cut collateralised credit deals at rates as high as 14-18 per cent.

“We are planning to pool in the funds from private equity funds and other financial services institutions,” said Ashish Kumar Sinha, Managing Director, SICOM.

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