Five post-graduate programme (PGP) students of the Indian Institute of Management, Ahmedabad (IIM-A) have set up a Private Equity (PE) and Venture Capital (VC) club to help students get hands-on experience by involving PE/VC players from India and abroad. Unlike finance clubs run by most B-schools in the country, this club exclusively focuses on PE and VC funding.

The lack of opportunities and experience in the PE and VC space led five students to set up the club called ‘Leverage’. With around 50 students interested in being members, the club will be a forum for students interested in all aspects of private equity and venture capital.

“We came up with an initial skeletal structure of the PE club by looking at institutes like Harvard and others from the Ivy League. But the end product has been entirely our idea of how a PE club should be. Although we prefer to call it an interest group for the time being, we plan to run a full-fledged club with more activities soon,” says Anirudh Singh, a member of the club.

“PE as an industry has boomed in India and we plan to invite speakers to the campus, hold conclaves, workshops and other events to provide a platform for the students and corporates to interact. Also, we are looking forward to hold intra-institute events, where the students can write an investment proposal and a panel of faculty members can judge them.

We have no restrictions when it comes to corporates as we would be involving both top- and middle-level players to encourage more and more activities in the field of PE and VC,” says Gagandeep Singh, another member of the club.

As part of formalising the club, the students are holding the first intra-institute event called the ‘Zen of Investing’, where the club plans to invite alumni working in the area of private equity, besides involving the faculty and students for the activity.

The club also has plans to tie-up with Post-Graduate Programme in Management for Executives (PGPX) students to getter a better perspective of private equity. “The PGPX students would be able to share their experiences about private equity and with their support, we plan to involve ourselves with the corporates in a deeper way through various activities, including projects and case workshops,” adds Anirudh Singh.

The club is in talks with a few corporates, who have shown interest in sponsoring the club.

“We are considering more options for funding besides the institute and the corporates we are in talks with. Currently, we are in the stage of gauging the responses from the people about the club,” says Anirudh Singh, before adding, “Although we have started out PE and VC, we may consider branching out to other areas like micro finance later.”

More : business-standard.com

Oil and Gas Corporation (ONGC) has submitted a government proposal to increase paid up capital by ONGC Videsh of Rs 300 crore according to RS 500 crore.

ONGC Videsh is a subsidiary of ONGC, is investing in oil ventures abroad.

“The registered capital of ONGC Videsh is relatively low compared to debt on its balance sheet. The issue of debt-equity compared sometimes the way of smooth running of our business abroad. We also proposed that the authorized capital of ONGC Videsh, up to Rs 5000 crore, “Mr. Subir Raha, Chairman and Managing Director, ONGC, said the edge of the newspersons launch of the “super-Unnati Prayas programme for ONGC employees.

Under this programme, ONGC sends his career in the mid-leaders of the Indian Institute of Foreign Trade (IIFT) for an MBA 18-month residential program.

The program, under the direction of IIFT for ONGC workers should pay special attention on trade and international affairs.

For the first part, twenty leaders were selected from about 340 nominations received from ONGC employees.

Mr. Raha said ONGC and spend over Rs 25 crore per annum for the training of its leaders in management and engineering programs.

The company will also soon in a tie-up Management Development Institute to offer a general programme management of his career in the mid-leaders.

The National Institute for Construction and Research (Nicmar), a course of masons, plumbers, carpenters and roofers and bar tenders and awards certificates of competence Testing and Certification Scheme.

BG Shirke construction Magarpatta Township Construction and Development Company and their employees for training and certification to Nicmar.

Larsen Toubro and construction and engineering orders Division operates its own training center workers in Chennai.

Hindustan Construction Company (HCC) is the creation of a training centre for its workers in Panvel in Mumbai in alliance with the City and Guilds of the United Kingdom. The brigade Bangalore group envisages the establishment of a training centre in a tie-up with Nicmar. The demand for skilled labour is undoubtedly increase of 11.9 percent during the period 2001-2002 is to 18.4 per cent in the years 2006-2007. Demand for labour is not likely to increase by 9.1 per cent during the period 2001-2002 to 9.6 per cent in the years 2006-2007. The construction is the second largest employer in relation to agriculture.

About 3.1 crore are employed in the construction sector, resulting in increased 10 per cent per annum. The proportion of skilled workers is likely to increase by 15.4 per cent of workers in 1995 - 1996 to 27.6 percent during the period 2004-2005. The Government of India 1724 takes place bodies industrial training (ITIS) and has 38 engineers and 26 non-technical trades.

After Nicmar, 100 training centres with 1000 seats are needed for the formal training of workers. The cost of capital is Rs5, 000 crore and training costs per year will be Rs50 crore. The training is the ability of 15000 workers annually in the certification report skills to 1000 per year.