11. What is the permissible commitment to be sought from SRI Fund?
01 Jul
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Commitment sought from SRI Fund should be minimum Rs. 25 crore and in multiples of Rs. 5 crore thereafter. Maximum commitment from SRI Fund would be lower of i) 20% of the Target Corpus or ii) Rs. 2,000 crore, as illustrated below:
A. If first close is pending as on date of submission of Detailed Application Form, lower of*:
i. 20% of the Target Fund Corpus (including green shoe option, if any)
OR
ii. 20% of Target Fund Corpus excluding commitments from any Government of India Fund of Funds scheme (including any specific end use requirement specified and fees on such commitment)
OR
iii. Rs. 2,000 crore
B. If first close or any subsequent close is completed as on date of submission of Detailed Application Form, lower of*:
i. 20% of the incremental corpus funds to be raised by the prospective Daughter Fund until achievement of final close (including green shoe option, if any)
ii. 20% of Target Fund Corpus excluding commitments from any Government of India Fund of Funds scheme (including any specific end use requirement specified and fees on such commitment)
OR
iii. Rs. 2,000 crore
*Provided that for prospective Daughter Fund which has availed commitments from any of the Fund of Funds of the Government of India (Central Government) or any funding support has been received by it from other Fund of Funds of Government of India (Central Government), the same will not be included in the 80% funds to be mobilized from outside investors. Provided that in case the prospective Daughter Fund has availed commitments from any of the Fund of Funds of the Central Government of India, investments that qualify as MSMEs for the purposes of complying with the requirements of SRI Fund, shall be excluded from being counted in end use requirement of any other Government of India (Central Government) Fund of Fund Scheme.
