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
June 17, 2019
The tech giant, Amazon is in talks with the Indian supply chain firm, NinjaCart to make a huge inves ...More
By Jaspreet Kaur
June 17, 2019
Ascendas Property Fund Trustee manages Ascendas trust and had signed a concord with Nalanda Shelter, ...More
By Jaspreet Kaur
June 14, 2019
Since April 2017, Nikkei, as well as NewsRise, have been collectively rendering English-language new ...More
By Jaspreet Kaur
June 14, 2019
The acquisition of 30 per cent shares would prompt an open offer from Total SA to the public stakeho ...More
By Jaspreet Kaur
June 13, 2019
After the funding round, the valuation of Sarva Chain has reached nearly $20 million. ...More
By Jaspreet Kaur
June 13, 2019
The Bahrain-based firm, Investcorp is raising money through its real-estate fund, which it had start ...More
By Jaspreet Kaur
June 11, 2019
The multinational conglomerate company, Softbank Group has more than 46 per cent shareholding in OYO ...More
By Jaspreet Kaur
June 11, 2019
By attaining a second close, the micro venture capital fund can begin investing in the companies and ...More
By Jaspreet Kaur
June 10, 2019
The acquisition of Jaypore, an e-commerce platform, is likely to happen in 35 to 40 days. ...More
By Jaspreet Kaur
June 10, 2019
The platform helps to ascertain real-time locations to masses of people and other vital niches such ...More
By Jaspreet Kaur
June 07, 2019
Advent International can escalate the amount it may invest in India as it currently acquires control ...More
By Jaspreet Kaur
June 07, 2019
Noida-based company, Biz2Credit has raised INR 360.25 Crore in Series B round of funding, led by Wes ...More
By Jaspreet Kaur