Finance Ppt Final

7/30/2019 Finance Ppt Final

1/106

PREPARED BY:-

Aditya Paul Sharma

Akhil Gour

Akhil Gupta

Aman Talla

1THE BUSINESS SCHOOL , UNIVERSITY OF JAMMU


2/106

2


3/106

A share is one unit into which the total sharecapital is divided. Share capital of the companycan be explained as a fund or sum with which acompany is formed to carry on the business andwhich is raised by the issue of shares.

Shares are the marketable instruments issued bythe companies in order to raise the requiredcapital.

These are very popular investments which aretraded every day in the stock market and thevalue of the share at the end of the day decidesthe value of the firm.

3


4/106

The shares which are issued by companies are

of two types:

Equity Shares

Preference Shares

4


5/106

Equity Shares are issued and are traded everyday in thestock market.

Equity share holders only get dividend after preferenceshareholders & debenture holders.

The returns on the equity shares are not at all fixed. Itdepends on the amount of profits made by the company.

The board of directors decides on how much of thedividends will be given to equity share holders. Shareholders can accept to it or reject the offer during theannual general meeting.

Equity shareholders have the right to vote on anyresolution placed before the company.

5


6/106

The Equity share is a common name, some of the

types of equity shares are:

Blue Chip Shares

Income Shares Growth shares

Cyclical Shares

Defensive shares

Speculative shares

6


7/106

One more classification of shares is givenby one of the most successful andrespected investor all around the worldPeter Lynch. According to him the sharescan be classified into 6 types:

Slow Growers

Fast Growers

Stalwarts Cyclical

Turn-around

Asset plays

7


8/106

ADVANTAGES DISADVANTAGES

High Return

Easily Transferable.

These can be easily

liquidated.

Right to vote

Right to choose the board of

directors.

Equity share holders have the

right to oppose any of the

decisions taken by the boardof directors. ( for e.g. This is

what happened when Mr.

Ramalinga Raju tried to buy

Maytas company)

High Risk

In worst cases less privilege

given to equity share holders.

8


9/106

It involves selling of ordinary shares to the

existing shareholders.

Law in India requires that the new ordinaryshares must be first issued to the existing

shareholders on a priority basis.

No. of rights = existing share/ new share

9


10/106

These are other type of shares. The preference shares are

market instrument issued by the companies to raise the

capital. Preference shares have the characteristics of both

equity shares and debentures. Fixed rate of dividends are

paid to the preference share holder as in case of

debentures, irrespective of the profits earned company is

liable to pay interest to preference share holders.

10


11/106

Preference shares are divided into:

Cumulative & Non cumulative shares

Redeemable & Non-redeemable

Convertible & Non-convertible shares

Participating and non-participating

11


12/106

ADVANTAGES DISADVANTAGES

These yield fixed rate of

returns

Its a hybrid instrument having

some of the characteristics of

debentures and equityshares.

They do not provide the

investor with any of the

voting rights.

If the company gets huge

profits then they wont getany extra bonus.

12


13/106

Every member of a company holding any

preference shares has a right to vote only on

resolutions placed before the company which

directly affect attached to his preferenceshares

Apart from this preference shareholders are

entitled to vote if dividend has remained

unpaid in case of cumulative as well as noncumulative for two years.

13


14/106

A shareholder (or stockholder) is an individual orcompany (including a corporation) that legally owns one

or more shares of stock in a joint stock company.

Shareholders are granted special privileges depending

on the class of stock, including the right to vote (usually

one vote per share owned) on matters such as electionsto the board of directors,

the right to share in distributions of the company's

income,

the right to purchase new shares issued by the companyand the right to a company's assets during a liquidation

of the company.

However, shareholder's rights to a company's assets are

subordinate to the rights of the company's creditors.

14


15/106

Detail of a Company & Shares in Prospectus.

90 % application is necessary

If access application received then

company issue shares by pro rata basis

full amount can be called up by company atthe time of application or it can be paid upin installments also (calls)

share of the company may be issued in anyof the following three ways: At par;

At premium; and

At discount.

15

Prospectus

Application

Repayment/

dividend

Allotment


16/106

Issue of shares for consideration other than cash (For

example: issue of shares to vendors, to promoters etc.)

Forfeiture of shares

Buy Back of Shares

Right Shares

Redemption of preference shares/ Debenture

16


17/106

A provision contained in an underwriting agreement that gives

the underwriter the right to sell investors more shares than

originally planned by the issuer. This would normally be done if

the demand for a security issue proves higher than expected.

Legally referred to as an over-allotment option.

It provides additional price stability to a security issue becausethe underwriter has the ability to increase supply and smooth out

price fluctuations if demand surges.

Green Shoe options typically allow underwriters to sell up to 15%

more shares than the original number set by the issuer.

However, some issuers prefer not to include green shoe options intheir underwriting agreements under certain circumstances, such

as if the issuer wants to fund a specific project with a fixed

amount of cost and does not want more capital than it originally

sought.

The term is derived from the fact that the Green Shoe Company

was the first to issue this type of option.17


18/106

Issue price of shares: the price at which share is issued inthe market.

Paid up share capital = issue price * no. of ordinary shares.

Issue price has two components Par value

Share premium Par value is the price per ordinary share stated in the

memorandum of association.

Generally they are in the denomination of 10 or 100.

Any amount in excess of par value is called the share premium.

Shareholders equity = paid up share capital + share

premium + reserves and surplus = Net worth Book value per share = Net worth / no. of ordinary shares

Market value of a share is the price at which it trades inthe market. It is generally based upon the expectationsabout the performance of the economy in general andcompany in particular.

18


19/10619


20/106

Instrument of debt executed by the company

A certificate of loan

Company pays pre specified percentage ofinterest

Part of the company's capital structure

Debentures are generally secured against thecompanys assets

Convertible debentures can be either fully orpartly converted into Shares

Convertible debentures may carry a lowerrate of interest

20


21/106

Security Point of View Secured Debentures

Unsecured Debentures

Tenure Point of View Redeemable Debentures

Perpetual Debentures

Mode of Redemption Point of View Convertible Debentures

Non-Convertible Debentures

21


22/106

Control of company is not surrendered to

debenture holders because they do not have

any voting rights.

Interest on debenture is an allowableexpenditure under income tax act, hence

incidence of tax on the company is

decreased.

Debenture can be redeemed when companyhas surplus funds.

22


23/106

Cost of raising capital through debentures is

high of high stamps duty.

Common people cannot buy debenture as

they are of high denominations. They are not meant for companies earning

greater than the rate of interest which they

are paying on the debentures.

23


24/106

It is a document which evidences a loan made toa company.

It is a fixed interest bearing security whereinterest falls due on specific dates.

Interest is payable at a predetermined fixedrate, regardless of the level of the profit.

The original sum is repaid at a specified futuredate or it is converted into shares or otherdebentures.

It may or may not create a charge on the assetsof a company as security.

It can generally be bought or sold through thestock exchange at a rice above or below its facevalue.

24


25/106

Issue of redeemable debentures can be

categorized into the following:

Debenture issued at a par and redeemable at

par or at discount.

Debenture issued at a discount and redeemable

at par or at discount.

Debenture issued at a premium and redeemable

at par or at discount.

Debenture issued at par and redeemable at

premium.

Debenture issued at a discount and redeemable

at premium.

25


26/106

A person having the debentures is called debentureholder whereas a person holding the shares is calledshareholder.

Debenture holder is a creditor of the company andcannot take part in the management of the companywhile a shareholder is the owner of the company. It isthe basic distinction between a debenture and ashare.

Debenture holders will get interest on debenturesand will be paid in all circumstances, whether thereis profit or loss will not affect the payment ofinterest on debentures. Shareholder will get a portionof the profits called dividend which is dependent onthe profits of the company. It can be declared by thedirectors of the company out of profits only.

26


27/106

Shares cannot be converted into debentures whereas

debentures can be converted into shares.

Debentures will get priority is getting the money back

as compared to shareholder in case of liquidation of acompany.

There are no restriction on issue of debentures at a

discount, whereas shares at discount can be issued

only after observing certain legal formalities. Convertible debentures which can be converted into

shares at the option of debenture holder can be

issued whereas shares convertible into debentures

cannot be issued.

There can be mortgage debentures i.e. assets of the

company can be mortgaged in favor of debenture

holders. But there can be no mortgage shares. Assets

of the company cannot be mortgaged in favor of

shareholders.27

IPO EXAMPLE


28/106

28

Jaypee Infratech Ltd.

Sector 128, , District Gautam Budh Nagar , Noida , Uttar Pradesh - 201304

Phone: 4609000 Fax: 4609783

Public Issue of 224799496 Equity Shares of Rs 10 each for Cash at a Premium

of Rs 92 per share.

Issue Open Date Issue Closing Date Application Money Allotment Money29/04/2010 04/05/2010 102 -

Listed atBSE, NSE

Object of the issue

.

The Issue comprises a Fresh Issue and an Offer for Sale. The Proceeds of Fresh Issue

The activities for which funds are being raised by our Company through this Issue, afterdeducting the proceeds from the Offer for Sale: (i) to partially finance the YamunaExpressway Project; and(ii) general corporate purposes. (collectively referred to herein as the "Objects"). Inaddition, our Company expects to receive the benefits of listing of the Equity Shares onthe Stock Exchanges.

IPO EXAMPLE


29/106

29

NTPC Limited (Company) enter market with FPO

FPO opens on February 03' 10

Indias largest power generation company NTPC Limited (Company) will

enter the capital markets on February 3, 2010 with its further public offer

(FPO) of 412,273,220 equity shares of Rs 10 at prices to be determined

through an alternative book building process under part D of Schedule XI of

the SEBI (Issue of Capital and Disclosure Requirements) Regulations 2009.The FPO will close on February 5, 2010.

FPO EXAMPLE


30/106

A company can make 100% retail issues providedit satisfies all the following conditions

It has a net tangible asset of at least Rs 3 crorein each of the preceding three years.

It has a track record of distributable profit forat least three out of immediately proceeding 5years.

It has a net worth of at least Rs1 crore in eachof the preceding 3 financial years.

The issue size (offer through offer document +firm allotment + promoters contributionthrough offer document) does not exceed fivetimes the pre-issue net worth

30


31/106

31


32/106

Typically, it means mobilizing and allocating

SAVINGS.

It includes all activities involved in the

transformation of SAVINGS intoINVESTMENTS.

Financial Services can also be called Financial

Intermediation.


33/106

It is a process by which funds are mobilized from a

large number of savers and make them available to

those who are in need of it.

Particularly to Corporate Customers.


34/106

Economic Growth

Promotion of Savings

Capital Formation

Provision of Liquidity Financial Intermediation

Contribution to GNP

Creation of Employment Opportunities


35/106

1. CAPITAL MARKET:

Term Lending Institutions

Investing Institutions

Long Term Funds


36/106

2. MONEY MARKET:

Consists of Commercial banks, Co-operative

banks and other agencies.

Short term funds.


37/106

A. TRADITIONAL ACTIVITIES

1. FUND BASED ACTIVITIES: includes

Underwriting

Dealing in secondary market activities Participating in money market instruments

Leasing, hire-purchase, venture capital, etc.


38/106

2. FEE BASED ACTIVITIES: includes

Managing the capital issues

Arrangements for placement of capital and debt

instrumentsArrangement of funds from financial institutions

Assisting in Government and other clearance


39/106

B. MODERN ACTIVITIES

Few of them are:

1. Rendering project advisory services

2.

Planning for Mergers and Acquisitions3. Acting as trustees to the Debenture-holders

4. Hedging of risks

5. Managing the portfolio of large public sector

companies.6. Undertaking risk management services.


40/106

Industrial promotion through Merchant Banking

Services

Working Capital Finance Through Factoring

ServicesEquipment Finance through Leasing

Financial resources through Mutual Funds

Long-term Risk Capital through Venture Capital


41/106

Risk Management through Derivatives

Debenture issue through Credit rating

Development Finance through Development

Banking Sector Industrial Development through Specialized

Services


42/106

Merchant Banking

Loan Syndication

Leasing

Mutual Funds Factoring

Venture Capital

Custodial Services


43/106

Corporate Advisory Services

Securitization

Reverse Mortgage

Derivatives:

- Forward Contract- Options

- Futures

- Swaps


44/106

Commercial Papers

Treasury Bills

Certificates of Deposit

Inter-bank Participation(IBPs)Option Bonds

Medium Term Maturity

Equity with 100% Safety Net


45/106

Convertible Bonds

Flip-Flop Notes

Loyalty Notes

Convertible Bonds with a Premium PutDebentures with Call and Put features

Easy Exit Bonds


46/106


47/106

A written agreement under which a propertyowner

allows a tenant to use the property for a specified

period of time and rent.

The lessee (person taking out a lease) agrees to pay a

number of fixed or flexible installments over an

agreed period to the lessor, who remains the owner of

the asset (item) throughout the period of the lease.
http://www.businessdictionary.com/definition/agreement.htmlhttp://www.investorwords.com/3900/property.htmlhttp://www.businessdictionary.com/definition/owner.htmlhttp://www.investorwords.com/4937/tenant.htmlhttp://www.investorwords.com/3669/period.htmlhttp://www.investorwords.com/4177/rent.htmlhttp://www.anz.com/edna/dictionary.asp?action=content&content=lesseehttp://www.anz.com/edna/dictionary.asp?action=content&content=leasehttp://www.anz.com/edna/dictionary.asp?action=content&content=lessorhttp://www.anz.com/edna/dictionary.asp?action=content&content=assethttp://www.anz.com/edna/dictionary.asp?action=content&content=assethttp://www.anz.com/edna/dictionary.asp?action=content&content=lessorhttp://www.anz.com/edna/dictionary.asp?action=content&content=leasehttp://www.anz.com/edna/dictionary.asp?action=content&content=lesseehttp://www.investorwords.com/4177/rent.htmlhttp://www.investorwords.com/3669/period.htmlhttp://www.investorwords.com/4937/tenant.htmlhttp://www.businessdictionary.com/definition/owner.htmlhttp://www.investorwords.com/3900/property.htmlhttp://www.businessdictionary.com/definition/agreement.html


48/106


49/106


50/106


51/106

Leasing a product is similar to renting it

A contract lasts over a number of years,

usually between 2 and 10, depending on

the cost and usable life of the product.

Have the full use of a piece of equipment

without having to pay the full cost of theitem in one go.

TYPES OF LEASING


52/106

TYPES OF LEASING

Lease

Finance

leaseOperating

lease

Sale and

Lease

Back

Leveraged

leasing

Direct

leasing


53/106

Long-term, non-cancellable leasecontracts are known as financial leases.

The essential point - it contains a

condition whereby the lessor agrees to

transfer the title for the asset at theend of the lease period at a nominal

cost.

At lease it must give an option to the lessee

to purchase the asset he has used at the

expiry of the lease.

High cost high tech equip.


54/106


55/106

Contrast to the financial lease

A lease agreement gives to the lessee only a

limited right to use the asset.

The lessor is responsible for the upkeep and

maintenance of the asset.

The lessee is not given any uplift to purchase

the asset at the end of the lease period.


56/106

Sub-part of finance leaseThe owner of an asset sells the asset to a

party (the buyer), who in turn leases back

the same asset to the owner in

consideration of lease rentals.

Under this arrangement, the assets are

not physically exchanged but it all

happens in records only.


57/106

Sale and lease back transaction is

suitable for those assets, which are

not subjected depreciation but

appreciation, like land.

The seller assumes the role of a lesseeand the buyer assumes the role of alessor.

The seller gets the agreed selling priceand the buyer gets the lease rentals.


58/106


59/106

A third party is involved beside lessor and

lessee.

The lessor borrows a part of the purchase cost (say

8 0 %) of the asset from the third party i.e., lender

The asset so purchased is held as security against

the loan.

The lender is paid off from the lease rentals

directly by the lessee and the surplus after meeting

the claims of the lender goes to the lessor.


60/106


61/106

Under direct leasing, a firm acquires the rightto use an asset from the manufacturer directly.

The ownership of the asset leased out remains

with the manufacturer itself.


62/106

No large outlay:

The cost is spread over a number of

years; there is no need to pay the entire

amount upfront.

Security:

The product is still owned by the leasing

company, meaning that they have

better security on finance.


63/106

Flexibility and convenience

The lease agreement can be tailor-

made in respect of lease period

and lease rentals according to the

convenience and requirements of all

lessees


64/106

1. No Ownership

2. Costly option - high interest rates, costlier than

straight buying

3. Long Term Expense

4. Maintenance

5. No working capital


65/106

A document under which a landlord and tenant set

forth the rights and obligations of each party with

respect to an apartment, rental unit, or other real

property owned by the landlord and used by the

tenant.

An instrument conveying the possession of real

property for a fixed period in consideration of the

payment of rent.


66/106

66


67/106

Hire purchase is used to buy expensive itemswhich a person cannot afford to pay outright:

e.g. a car A down payment is usually paid

and the balance is paid over several months

(monthly installments).


68/106

Goods are let out on finance by a financecompany to the hire purchaser customer

Buyer is required to pay an equal amount of

periodic installments during a given period

Ownership transfers at the payment of the

last installment


69/106

An agreement under which goods are let onhire and under which the hirer has an option

to purchase them in accordance with the

terms of the agreement.


70/106

In hire purchase the purchase has to followthe agreement and he cannot terminate the

contract. The seller can however, terminate

the agreement in case of default of

purchaser hire purchase price is higher thancash price, because interest element is

added in this price


71/106

The Dealer, contracts with finance co. forfinancing his hire purchase deals.

The customer selects the goods for HP, and

dealer arranges for the complete set of

documents

Down payment by customer on completion of

proposal form

Dealer sends documents to finance co. withrequest to purchase the goods, and accept

the HP transaction.


72/106

The finance co. signs the agreement and sends

copy a long with EMI details to dealer.

Dealer delivers the goods to the customer, property

passes on to the finance co.

Hirer pays EMIs, and on last payment , the

ownership passes on to him, with loan completion

certificate by the finance co.


73/106

Many kinds of business asset are suitable for

financing using hire purchase or leasing , including:-

Plant and machinery

Business cars

Commercial vehicles Agricultural equipment.

Hotel equipment

Medical and dental equipment

Computers, including software packages

Office equipment


74/106

Bi-partite arrangement:

- two parties viz. borrower/consumer and

dealer/financier.Tripartite Transaction:

- three parties viz. dealer, financier, and

customer. The dealer arranges the credit

from the financier


75/106


76/106

Venture capital means funds made availablefor startup firms and small businesses with

exceptional growth potential.

Venture capital is money provided byprofessionals who alongside management invest

in young, rapidly growing companies that have

the potential to develop into significant

economic contributors.


77/106

Venture Capitalists generally:

Finance new and rapidly growing companies

Purchase equity securities

Assist in the development of new products or services

Add value to the company through active participation.


78/106

The SEBI has defined Venture Capital Fund in its

Regulation 1996 as a fund established in the form

of a company or trust which raises money through

loans, donations, issue of securities or units as the

case may be and makes or proposes to make

investments in accordance with the regulations.


79/106

Long time horizon

Lack of liquidity

High risk

Equity participation

Participation in management


80/106

It injects long term equity finance which provides asolid capital base for future growth.

The venture capitalist is a business partner, sharing both

the risks and rewards. Venture capitalists are rewardedby business success and the capital gain.

The venture capitalist is able to provide practical

advice and assistance to the company based on past

experience with other companies which were in similarsituations.


81/106


82/106


83/106

The financing pattern of the deal is the mostimportant element. Following are the various

methods of venture financing:

Equity

Conditional loan Income note

Participating debentures

Quasi equity


84/106


85/106

The concept of venture capital was formallyintroduced in India in 1987 by IDBI.

The government levied a 5 per cent cess on all

know-how import payments to create theventure fund.

ICICI started VC activity in the same year

Later on ICICI floated a separate VC

company - TDICI


86/106

VCFs in India can be categorized into following fivegroups:

1) Those promoted by the Central Government

controlled development finance institutions. Forexample:

- ICICI Venture Funds Ltd.

- IFCI Venture Capital Funds Ltd (IVCF)

- SIDBI Venture Capital Ltd (SVCL)


87/106

2) Those promoted by State Government controlled

development finance institutions.

For example:- Punjab Infotech Venture Fund

- Gujarat Venture Finance Ltd (GVFL)

- Kerala Venture Capital Fund Pvt Ltd.

3) Those promoted by public banks.

For example:

- Canbank Venture Capital Fund

- SBI Capital Market Ltd


88/106

4)Those promoted by private sector

companies.

For example:

- IL&FS Trust Company Ltd

- Infinity Venture India Fund

5)Those established as an overseas venture capital fund.For example:

- Walden International Investment Group

- HSBC Private Equity

management Mauritius Ltd


89/106

AS PER SEBI

AS PER INCOME TAX ACT,1961


90/106

VCF are regulated by the SEBI (VentureCapital Fund) Regulations, 1996.

The following are the various provisions:

A venture capital fund may be set up by acompany or a trust, after a certificate of

registration is granted by SEBI on an

application made to it. On receipt of the

certificate of registration, it shall bebinding on the venture capital fund to abide

by the provisions of the SEBI Act, 1992.


91/106

A VCF may raise money from any investor,Indian, Non-resident Indian or foreign,

provided the money accepted from any

investor is not less than Rs 5 lakhs. The VCF

shall not issue any document oradvertisement inviting offers from the public

for subscription of its security or units


92/106

SEBI regulations permit investment byventure capital funds in equity or equity

related instruments of unlisted companies

and also in financially weak and sick

industries whose shares are listed or unlisted


93/106

At least 80% of the funds should be investedin venture capital companies and no other

limits are prescribed.

SEBI Regulations do not provide for anysectoral restrictions for investment except

investment in companies engaged in financial

services.


94/106

A VCF is not permitted to invest in the equityshares of any company or institutions

providing financial services.

The securities or units issued by a venturecapital fund shall not be listed on any

recognized stock exchange till the expiry of 4

years from the date of issuance .


95/106

A Scheme of VCF set up as a trust shall bewound up

(a) when the period of the scheme if any, is

over

(b) If the trustee are of the opinion that thewinding up shall be in the interest of the

investors

(c) 75% of the investors in the scheme pass a

resolution for winding up or,(d) If SEBI so directs in the interest of the

investors.


96/106

The Income Tax Act provides tax exemptions to

the VCFs under Section 10(23FA) subject to

compliance with Income Tax Rules.

Restrict the investment by VCFs only in the equity

of unlisted companies.

VCFs are required to hold investment for aminimum period of 3 years.


97/106

The Income Tax Rule until now provided that

VCF shall invest only upto 40% of the paid-upcapital of VCU and also not beyond 20% of thecorpus of the VCF.

After amendment VCF shall invest only upto25% of the corpus of the venture capital fundin a single company.

There are sectoral restrictions under the

Income Tax Guidelines which provide that a VCFcan make investment only in specifiedcompanies.


98/106

It was established in 1993 and is based in Delhi, the

capital of India

It is a member based national organization that

- represents venture capital and private equityfirms

- promotes the industry within India and

throughout the world

- encourages investment in high growthcompanies and

- supports entrepreneurial activity and

innovation.

IVCA members comprise venture capital firms


99/106

IVCA members comprise venture capital firms,

institutional investors, banks, incubators, angel

groups, corporate advisors, accountants, lawyers,government bodies, academic institutions and other

service providers to the venture capital and private

equity industry.

Members represent most of the active venture

capital and private equity firms in India. These

firms provide capital for seed ventures, early stage

companies and later stage expansion.


100/106

6.94

7.73

11.5

4.32

27.95

4.82

11.43

12.92

3.36

9.03

Percentage

IT & ITES

Energy

Manufacturing

Media & Ent.

BFSI

Shipping & logistics

Eng. & Const.

TelecomHealth care

Others

Percentage calculated on the total VC investment- 14,234 USB (fig. of 2007)


101/106

CITIES SECTORS

MUMBAI Software services, BPO, Media,

Computer graphics, Animations,

Finance & Banking

BANGALORE All IP led companies, IT & ITES, Bio-technology

DELHI Software services, ITES , Telecom

CHENNAI IT , Telecom

HYDERABAD IT & ITES, Pharmaceuticals

PUNE Bio-technology, IT , BPO


102/106

1160937

591 470

16502200

7500

14234

6390

280

110

78

56

71

146

299

387

170

0

50

100

150

200

250

300

350

400

450

0

2000

4000

6000

8000

10000

12000

14000

16000

2000 2001 2002 2003 2004 2005 2006 2007 1st half of 2008

Value of deals No of deals


103/106

The down market virtually closed the IPO market for

emerging companies.

With less opportunities for getting ROI investors tend to

scale back, adjust their investment focus and/or get more

picky in funding companies.

The investors that put money into their funds became lessaggressive during recession so it was harder for the VCs to

raise money.


104/106

The increase in weighted deduction of in house R&D

will boost up investment in health care.

46% of the total investment is going toinfrastructure development which is a positive sign

for investors.


105/106

VC can help in the rehabilitation of sickunits.

VC can assist small ancillary units to upgrade

their technologies

VCFs can play a significant role in developingcountries in the service sector including

tourism, publishing, health care etc.

They can provide financial assistance to

people coming out of universities, technicalinstitutes, etc thus promoting

entrepreneurial spirits


106/106

THANK YOU

Documents

Finance Ppt Final