Bharat Ratna Dr. Babasaheb Ambedkar Fund for SC/ST

Overview

The Fund is sector agnostic and all manufacturing enterprises as per MSMED Act 2006 are eligible for the Fund. Service enterprises viz. Health Care, Renewable and Non-Conventional Energy, Agri ancillary, Food Processing, Energy efficiency – transmission – distribution, Clean Technology, Light Engineering, Information Technology, Medical Devices, Bio-Medical, Water and related technologies, Consumption lead sectors and any other service sectors which have a multiplier effect in different locations are eligible for the Fund Fund Investment Criteria Private Ltd. /Public Ltd. Companies - Enterprise having Promoters & Directors having 100% controlling stake in the Company. The company shall fall in the definition of Start-up as defined by the Startup initiative of Govt. of India or MSME as per the Ministry of MSME/Micro, Small and Medium Enterprises Development Act, 2006. FDI will be freely allowed in such enterprises within the prescribed limits of existing policy of GOI. In no case, the shareholding of SC/ ST entrepreneurs would be reduced from 51%. The controlling stake at any point of time should be retained throughout the operative period of the scheme. The entrepreneur and all operations of the business should be domiciled in the state of Maharashtra. All entrepreneurs should have a Caste Certificate along with Caste validity certificate issued by respective Competent Authorities. Documentary proofs of the same will have to be annexed along with the proposal. At least 20% of the total capital employed in the business shall be made by the erstwhile shareholders/promoters of the company or any other Investor.

Key Facts

Type

Venture Capital