Sunil Poddar of Poddar Global honoured for contribution to SME sector
26 Feb 2018
Sunil Poddar, managing director of Poddar Global, has been awarded for his dedicated contribution to the SME sector during the launch of the Pantomath Sabrimala SME Growth Fund Series I, held at Park Hotel in Delhi. Poddar received the award from Shiv Pratap Shukla, minister of state for finance, government of India.
(l-r) Shiv Pratap Shukla, minister of state for finance, government of India and Sunil Poddar, managing director, Poddar Global
Poddar Global is one of the leading newsprint and paper importers and distributors in India for last 30 years, having its own supply chain and paper conversion facility on more than 300,000 sq/ft in all major Indian port towns, including Mumbai, Chennai, Kolkata, Cochin, and New Delhi. Every year, Poddar Global, along with its wholly owned subsidiary company, Sandy Limited, Hong Kong, supply more than 250,000 mt of standard newsprint and other publication paper to more than 350 Indian newspapers and magazines.
Capital Advisors Private Limited is a one-stop integrated business, finance and advisory services from start up till the SME grow larger. Pantomath and Sanjay Garg (Sponsors of the Fund) have floated their debut fund Pantomath Sabrimala SME Growth Fund Series- I, which has a target of a total corpus of Rs 40 crore (about USD 6.2 million), including a green shoe option of Rs 10 crore (USD 1.55 million). The fund has a hurdle rate of 20%, which is higher than industry norms. This represents the management’s confidence in the future prospects and expected performance of this fund. This AIF was officially inaugurated on 19 February with an intent to invest its corpus in the SME sector. The fund has so far called 65% of its total commitment. The fund will typically invest up to 2 crore in a company. The majority of the fund’s investors are individuals and the rest are companies and limited liability partnerships.