Sole Advisor to Hertz India in a Transaction With Sidbi Ventures.

Hertz India is planning to raise its fleet of cars to about 5,000 in the next three years from the current 650. In addition, the company plans to introduce various services and increase the number of its outlets (including through a tie-up with HPCL petrol pumps) in order to enhance its presence to around 32 cities in India. The company estimates an investment of Rs 300 crores over the next three years to fuel its expansion plans.

Carzonrent, set up in October 2000, is a venture promoted by industry professionals who possess significant experience in managing operations for major international car rental brands in India. It is the first occasion that Hertz International has entrusted its Master Franchise to a group of professionals in any country - a departure from the existing policy of collaborating only with established corporate houses. Carzonrent currently operates 22 units in downtown locations and at Premier 5 star deluxe hotels with a fleet size of over 650 cars. Over 500 corporate clients are serviced with Carzonrent’s short term and long-term car rental products in all cities.

SIDBI Venture Capital Limited (SVCL) is a wholly owned subsidiary of SIDBI, incorporated in July 1999 to act as an umbrella organization to oversee the Venture Capital operation of SIDBI. SVCL manages the various Venture Capital Funds launched/ being launched by SIDBI.