Tata Capital sets its sights on Asian M&As

The financial services arm of India's Tata Group is on the lookout for profitable acquisitions.

Tata Capital recent agreement with Singapore’s Economic Development Board (EDB) is expected to bring more business to Tata and the region through the company’s international headquarters in Singapore.

Tata Capital sees Singapore as a key platform for luring local Indian businesses to venture overseas. It is focusing on companies in manufacturing, IT and healthcare, among others.

Singapore has the largest Indian foreign business community with about 5,000 Indian companies in operation.

"We already started looking at cross border M&A and other corporate finance activities, so we should see that growing significantly,” said Praveen Kadle, Tata Capital Managing Director & CEO.

“We haven't put any number but we believe that if we really do a good job, in these areas of private equity, private banking, find management and investment banking, we can see a significant growth."

Working in Tata’s favour is the India-Singapore Comprehensive Economic Cooperation Agreement (CECA) signed in 2005.

Lee Eng Keat, Director of Singapore Welcome Centre for Corporates and International Director (Asia Pacific) at EDB, said the agreement with Tata Capital give EDB a better understanding how Tata can leverage on CECA and the other treaties that Singapore has with the rest of Asia.

“They can benefit from all these treaties in order to be in a stronger position, protect their investments as they venture overseas,” he said.