New Delhi: The Indian Institute of Management, Bangalore (IIM-B) has tied up with Indian Bank to fund debt capital to its startups. The move will help startups get working capital and growth capital without diluting equity early in their life cycle. Venkatesh Panchapagesan, chairperson of the incubation centre at IIM-B, said that the partnership will make debt capital easily available for startups. “Many startups that are in their growth phase need working capital, which can be obtained through this arrangement without having them dilute equity. “There is a lot of goodwill between IIM-B and Indian Bank…there has always been a need for debt capital for start-ups as they had never really fit the traditional lending models of banks in India," said Padmaja Chunduru, the chief executive officer of Indian Bank.

Source: Mint August 08, 2021 10:30 UTC