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Tata Finance looks for a foreign partner

Aug 21, 1999

Tata Finance Ltd., one of the largest non-banking financial companies (NBFC) in India, is in talks with various international companies, investment banks and foreign institutional investors (FIIs) to privately place upto 20% of its paid up equity capital. The company is expected to close the deal within 60-90 days. Tata Finance is actively looking at profiting from the economic reforms under which various financial services, like insurance, that were reserved for the public sector, are now being opened to new entrants. The company is aptly placed to benefit from such a move because of its large marketing reach and depositor base.

By entering into an alliance, the company would benefit in terms of access to larger resources, better technology and experienced management. Moreover, this would add to the company's existing competitive strengths thus enabling it to face competition effectively. The larger resources, better technology and he experienced management will help the company in meeting the eligibility criteria for offering such services.

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