TIFAC Launches Revolving Technology Fund For MSMEs
by Irfan Khan
Technology Information, Forecasting and Assessment Council(TIFAC) has set up a Rs30Cr 'Revolving Technology Innovation Fund' with SIDBI for funding MSMEs for development, up-scaling, demonstration and commercialization of innovative technology based projects. SIDBI will manage the fund on behalf of TIFAC.
The fund will provide capital asistance upto 80% of the total project cost, which should not be more than Rs1 Cr.
Infrastructure company IVRCL has sold its entire 75% stake in Chennai Water Desalination Ltd to Dubai based Utico FZC. The deal provides the plant having a networth of R24 Cr with an equity valuation of R150 Cr.