EKI Energy Services collaborates with Impact Capital Asset Management

21 Oct 2022 , 01:34 AM

EKI Energy Services announced a tie-up with Singapore based fund management company – Impact Capital Asset Management ICAM for launching Indias first ever Rs 1000 crore 125 million USD Climate Impact Fund to develop climate change mitigation projects with a deep focus on community development across remote locations in India and other geographies As an anchor investor EKI will invest up to Rs 200 crore 25 million USD and ICAM will raise the balance corpus from institutional investors and manage the fund To this end the Company has on 17 October 2022 entered into a term sheet with ICAM The fund will be incorporated as a Variable Capital Company VCC with a nominal capital which will be held by EKI and ICAM in the ratio of 5149 As a shareholder of the fund vehicle EKI will have no interest in the property of the fund except to the extent of aforementioned contribution proposed to be made to the schemes of the fund