India: SIMA mulls pvt equity funding for mills.

COIMBATORE, June 7. CASH-STRAPPED textile units can now look to private equity funds scouted through external agencies, possibly from overseas funds, to meet their margin money requirement to avail of the modernisation loans under Union Government-sponsored textile technology upgradation fund (TUF) scheme if their apex body, Southern India Mills Association's (SIMA), initiative in this regard fructifies.

The equity fund being mooted by SIMA may be in the form of a corpus fund forked out of either a venture capital route or mutual fund mop but the idea behind the attempt is primarily to assist equity capital support to those units falling under the mid-segment, whose …