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K. Nitya Kalyani
CHENNAI, March 17
FIAT Sundaram Auto Finance Pvt. Ltd, the joint venture between Fidis S.p.A of Italy, a wholly-owned subsidiary of Fiat, and the Chennai-based non-banking finance company (NBFC), Sundaram Finance Ltd (SFL), which is to start operations on April 1, will have an equity capital of Rs. 23 crores to be brought in in two equal tranches.
While Fidis is to contribute 51 per cent of the equity at a premium amounting to Rs. 44 crores, the remaining 49 per cent will be brought in by SFL at par.
According to company officials, Rs. 32.5 crores of the Rs. 65 crores has been brought in, and the first board meeting of the …