Online Trading India

Mutual Funds

Share Market
Credit Card

Which All Company International Finance Corporation Going Is To Invest In?

Bajaj Finance, India’s leading consumer and enterprise financing company, is looking to raise $150 million (approximately or Rs 1000 crore) from International Finance Corporation.

In a disclosure, IFC said it would subscribe to Bajaj Finance’s non convertible debentures for on-lending to micro small and medium enterprise.

IFC may also invest up to $100 million in Fullerton India Credit Company and another $50 million in Capital First.

These proposals are part of IFC’s strategic target to finance 10 million MSMEs during FY17-21.

Bajaj Finance, the Pune-based non-bank lender, has total assets under management of around $9.23 billion at the end of December with 43% of its assets being under consumer financing and 42% under SME financing. Commercial business accounts for 12% of the loan and balance 3% comes from rural sector.

Bajaj Finserv, the holding company for the financial services businesses of the Bajaj Group, owns 57.3% of Bajaj Finance, which reported 36% rise in net profit at Rs 556 crore for the third quarter to December 2016.

(Visited 51 times, 1 visits today)