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IFC to invest $45 Million as Equity
By siliconindia
Bangalore: International Finance Corporation (IFC) plans an investment of $45 million in an un-named public-listed mid-size Indian non-banking finance company (NBFC). The investment will be in the form of equity and the fund will be utilized for expanding access to finance for the micro, small and medium entrepreneurs, reports VCCircle.
The primary business of the undisclosed company is asset-backed financing, focused on providing funds to the small sized sections in rural and semi-urban areas. The undisclosed company plans to raise $100 million or 
450 crore for its growth plans along with IFC's proposal to invest up to $45 million.
The private sector investment section of the World Bank has announced several deals almost every week in India this year and this investment will raise its equity and debt capital in the country this year to $470.5 million.
With a large branch network spread across the country, NBFC looks forward to develop it further in a bid to have a deeper penetration in rural and semi-urban areas. The fund will support the company in setting and expanding its low-income housing finance business through subsidiary in India and in select countries in South Asia and Africa.
450 crore for its growth plans along with IFC's proposal to invest up to $45 million.
The private sector investment section of the World Bank has announced several deals almost every week in India this year and this investment will raise its equity and debt capital in the country this year to $470.5 million.
With a large branch network spread across the country, NBFC looks forward to develop it further in a bid to have a deeper penetration in rural and semi-urban areas. The fund will support the company in setting and expanding its low-income housing finance business through subsidiary in India and in select countries in South Asia and Africa.
