TIHCL hopeful of raising capital in three months

TIHCL has also recently launched learning tools and pre-packages for revival for entrepreneurs and bankers.

By   |  Published: 3rd Sep 2020  12:01 amUpdated: 2nd Sep 2020  11:14 pm

Hyderabad: The Telangana Industrial Health Clinic Limited (TIHCL) is hopeful of raising capital shortly from multiple players to help expand its activities including fresh lending to enterprises led by women. The TIHCL is an initiative of the Telangana Government that helps in revival and rehabilitation of manufacturing MSMEs.

“We plannign to raise Rs 20 crore in the next two to three months. Our target is to raise Rs 100 crore gradually. Many funding agencies are convinced about our model. This model, one-of-its-kind intervention in Asia, has been lauuded by Japan as well. The new funding will help us in aiding the stressed MSMEs,” said TIHCL director B Yerram Raju.

It has so far received 220 proposals for revival and has helped 67 of them. The clinic is planning to set up desks in ten districts to liaise with banks and entrepreneurs. TIHCL offers revival and rehabilitation services, credit facilitation, overdue bill purchase and bridge finance among other offerings. The company managing director DV Suresh Kumar said new strategies were being used to help stressed. Enterprises that are in growth path are also being tapped for scaling up.

“We are now developing a new instrument called the Industrial Healthcare Audit. It will be given free to members and at a nominal cost to non-members. We will use this tool for high risk or sensitive sectors where the failure rate is high,” he said. The audit can be done annually for stressed enterprises only.

“We want to create a new rating tool for MSMES. The ones that are used by the rating agencies are mainly meant for bigger firms. We can give a better instrument with our experience,” Raju said.

TIHCL has also recently launched learning tools and pre-packages for revival for entrepreneurs and bankers. The pre-packages are assessment tools that will tell if the concerned enterprises can be revived or not. The TIHCL’s board has already given its nod to expand pan-India. “We are waiting for the Government of India to take it forward. It will take about nine months for us to expand to other States once we get the call. Meeting the required manpower needs is not an issue,” he said.

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