your password has been reset successfully, Please login again.

IFC Invests $150 Million in Piramal Capital & Housing

International Finance Corporation (IFC), a sister company of World Bank, has decided to endow money equal to $ 150 million in Piramal Capital & Housing Finance Limited
BY BEx Bureau
BusinessEx
Apr 11, 2019

International Finance Corporation (IFC), a sister company of World Bank, has decided to endow money equal to $ 150 million in Piramal Capital Housing Finance Limited (PCHFL).

The investment will be a type of senior debt investment. Further, IFC will facilitate PCHFL, a housing finance company, to move an additional amount of $200 million via parallel loans, apprised IFC.

The loan, which is offered by IFC, will be employed for lending to third parties in the retail housing finance sector.

Through IFCs credit, PCHFL will be able to enter in the international market and plus, diversify long-term funds. In essence, IFC is functioning as an anchor by investing $150 million to help PCHFL position itself in the international market.

IFCs monetary help to PCHFL will give leverage to PCHFLs strategy intention to thrive in the housing portfolio in an important way, IFC told the Indian daily news, Business World.

Ajay Piramal, the founder of Piramal Enterprises, owns 100 per cent stakes in PCHFL. On the other hand, there are key shareholders in Piramal Enterprises Limited (PEL) that are, Life Insurance Corporation India (possesses 3.48 per cent stakes), East Bridge Capital Master Fund (possesses 6.3 per cent stakes) and Aberdeen Global Indian Equity limited (possesses 1.3 per cent stakes).

Please add your Comment
SIMILAR News
August 22, 2019
The stakes were bought by several foreign portfolio investors as well as domestic mutual funds. ...More
By Jaspreet Kaur
August 22, 2019
Online gaming firm, Global eSports has amassed an undisclosed sum in a seed funding round from VC fi ...More
By Jaspreet Kaur
August 21, 2019
The company will employ funds for business expansion and to release a new product, Explorazor. This ...More
By Jaspreet Kaur
August 21, 2019
Software startup, Ally proclaimed to INR 57 crore in Series A funding round led by VC, Accel. ...More
By Jaspreet Kaur
August 20, 2019
The company employs an AI-based tool that facilitates brands to strategize content to surge customer ...More
By Jaspreet Kaur
August 20, 2019
MPOWER, which is backed by the PE firm, Zephyr Peacock, will utilise the funds to widen its reach to ...More
By Jaspreet Kaur
August 17, 2019
With Sistema Asia Capital’s investment, the aggregate equity funding of Lendingkart has surged to $1 ...More
By Jaspreet Kaur
August 17, 2019
Investors, who partook in the funding round, were Inventus Capital, Storm Ventures, Emergent Venture ...More
By Jaspreet Kaur
August 16, 2019
UK-based company sold 67.1 million stakes at INR 480.7 epiece, according to the stock-exchange data. ...More
By Jaspreet Kaur
August 14, 2019
Indian ride-hailing firm, Ola has proclaimed to buy Pikup.ai, an AI platform, which renders tech sol ...More
By Jaspreet Kaur
August 14, 2019
Indian online platform, Tjori has amassed INR 5 crore in pre-Series A round from a cohort of investm ...More
By Jaspreet Kaur
August 12, 2019
The automotive manufacturer’s products comprise telematic devices, instrument cluster, and other dat ...More
By Jaspreet Kaur