IL&FS INVESTMENT MANAGERS Share price

Creditcapital Venture Fund (India) Ltd. (CVF) established in 1989 was the first private sector Venture Capital Company in India. It was set up as a joint venture by Creditcapital Finance Corporation Ltd (CFC) and Bank of India (BOI) with equity participation from Asian Development Bank Manila (ADB); Commonwealth Development Corporation London (CDC). Subsequently the International Finance Corporation (Washington) subscribed to 1250000 equity shares of Rs. 10/- each at a premium of Rs.1/- aggregating Rs. 137.50 lacs. CVF has technical assistance and collaboration with Lazard Ventures an associate of Lazard Bros. & Co. London. Lazard Ventures is one of the largest Venture Capital Companies in U.K.PRESENT BUSINESSCVF is primarily engaged in providing equity support to new projects. In 1990 the Company made a public issue of 3400000 Equity Shares of Rs.10/- each at par aggregating Rs. 3.40 crores which was oversubscribed 12.09 times. CVF is listed on the Delhi Bombay and Calcutta Stock Exchanges.The principal objective of CVF is to seek capital appreciation of its equity investments from the growth of its portfolio companies and to ultimately realise this capital appreciation through exercising a clearly identified divestment option.After having substantially deployed its general fund CVF has floated the first Industry Specific Fund called the Information Technology Fund (ITF) with a corpus of Rs. 10 crores. The fund is privately placed and subscribed by Industrial Development Bank of India (IDBI) IFC (W) CVF General Insurance Corporation (GIC) Life Insurance Corporation (LIC) Unit Trust of India (UTI) and some other players belonging to the Information Technology industry. CVF is Manager to ITF which was formally launched in September 1993.