International Finance Corporation

International Finance Corp to buy 5.6% stake in JK Tyre for $30 million

JK Tyre & Industries Ltd on Wednesday said World Bank Group member IFC will invest USD 30 million (about Rs 240 crore) to pick a 5.6 per cent stake in the company to part-fund expansion of energy-efficient tyre manufacturing. The investment by IFC in JK Tyre & Industries will part-finance the expansion of manufacturing capacities and integrate advanced, resource-efficient technologies in the production of commercial and passenger car radial tyres, which have better safety and longevity, the company said in a regulatory filing. Subsequently, International Finance Corporation (IFC) will hold a 5.6 per cent stake in the tyre major through the issue of compulsorily convertible debentures (CCDs) on a preferential basis, it added. "The investment aims to bolster the company's capital structure and increase production of energy-efficient radial tyres by more than 10 per cent -- from 32 million to over 35 million tyres a year by 2025," JK Tyre & Industries said. This aligns with ..

KKR, Hero Group put $450 mn equity investment in Hero Future Energies

Hero Future Energies aims expansion in green hydrogen and battery storage

IFC MD Diop meets FM Sitharaman, discusses lending opportunities in India

Finance Minister Nirmala Sitharaman on Monday met International Finance Corporation (IFC) Managing Director Makhtar Diop and discussed increasing lending opportunities in India. IFC is the private sector funding arm of the World Bank. She reiterated India's expectation of a rise in IFC's lending to India to USD 2-2.5 billion in the next 1-2 years and USD 3-3.5 billion in next 3-4 years, the finance ministry said in a series of tweets. "Mr @Diop_IFC shared the sentiment of IFC's expansion into India & stated that IFC would adopt a proactive approach to enhance #investment in India and extend financing to MSMEs to enable capacity building to supplement India's effort to become a manufacturing hub," another tweet said. He further emphasised the potential of looking into sub-national financing for sustainable growth, and mobilise financing for women entrepreneurs.

Decoding Azure Power: India's first NYSE-listed renewables company

Stock tanks after new CEO's sudden resignation, whistle-blower complaint

IFC will continue to raise annual India investments: South Asia Director

In a Q&A, Hector Gomez Ang asserts that the institution's India portfolio has delivered strong development and financial returns despite Covid-19

International Finance Corp to invest $15 mn in South Asia Growth Fund II

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Hero Future Energies to hit int'l bond market, use funds for India projects

Renewables company will use its Mauritius SPV, subscribe to Indian rupee-denominated external commercial borrowing

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IFC, TCCL and EverSource to back WABAG's hybrid annuity model project

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The loan will support the pharmaceutical firm's expansion of low-priced, generic vaccines for routine immunisation of children and to boost capacity for manufacturing any future Covid-19 vaccine

NCML to invest Rs 506 cr in grain silos in India, IFC to back the project

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IFC extends $4-billion loans to private companies to fight pandemic

The International Finance Corporation (IFC) on Friday said it has so far extended $4 billion to private sector businesses in the poorest countries to help fight the coronavirus pandemic.

IFC to support Netafim India's capex & working capital requirements

The proposed $75 million long-term financing will be in the form of Non-Convertible Debentures

IFC to invest $75 mn in Indospace Logistics to develop industrial parks

The funding will provide Indospace with long-term finance against the backdrop of the Covid-19 pandemic to continue investing and developing select projects

World Bank's IFC adopts climate rules to deter lenders from backing coal

IFC, which owns equity stakes in many large commercial banks in emerging markets, hopes the restrictions will trigger other investors to exit the coal sector

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World Bank arm invests $10 mn in venture capital firm Endiya Partners

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The proposed IFC infusion would fund the incremental working capital requirements due to the impact of Covid-19

IFC plans to invest $10 million each in Endiya Partners, Onsitego

In Endiya Partners Fund II, the World Bank's investment arm will invest an equity investment of upto $10 million.