JEDDAH: The Kerala State Industrial Development Corporation (KSIDC) intends to launch an Islamic investment company with a capital of Rs.1 billion. Ernst & Young, Mumbai, conducted a feasibility study on the company and proposed the formation of a non-banking financial company (NBFC) with a minimum 26 percent paid up share capital from governmental agencies. The balance will be mobilized from individual investors in India, NRIs, HNIs, corporates, etc. A presentation on the company will be held in Thiruvananthapuram today. "There are good prospects for such a company in Kerala, which has a substantial number of NRIs. Muslims constitute more than 48 percent of NRKs in the Gulf," said T.P. Thomas Kutty, deputy general manager of KSIDC.