Tata Housing (IFC-36345)

Regions
  • South Asia
Where the impacts of the investment may be experienced.
Countries
  • India
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 13, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
TATA CAPITAL HOUSING FINANCE LIMITED
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 60.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 60.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 31, 2018

Disclosed by Bank Nov 25, 2015


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Project Description

This project provides a loan to Tata Capital Housing Finance Limited, a housing finance institution. The funds will be used for the dissemination of mortgages in India, thus spurring housing construction.

People Affected By This Project

1.Additional Reach: Tata Capital HF''s strategy is to expand its affordable housing portfolio across India, for which they have a unique ability to penetrate thanks to the strong Tata brand.
2. Pan-Indian Presence: Tata Capital HF is the appropriate partner for IFC to provide financing to under-served segment of the market as the Company is present all across India.
3. Cross- selling products: Tata Capital HF gives the opportunity to cross-sell services of the other group companies. In addition TCL is considering an affordable housing fund to invest in developers of affordable housing projects and has invited IFC to play a lead role in the structuring and design of the Fund and to act as an anchor investor. IFC will evaluate this opportunity on its own merits but it provides an example of the potential synergies that IFC can benefit from through its collaboration with TCL as it seeks to make a major impact in the housing finance area.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

Tata Capital Limited (“TCL”) is a subsidiary of Tata Sons Limited and is registered with the RBI as a Systemically Important Non-Deposit Accepting Core Investment Company (“CIC”). As a CIC, TCL is primarily a holding company, holding investments in its subsidiaries and other group companies and carries out only such activities, as are permitted under the Directions issued by RBI for CICs. TCL and its subsidiaries are engaged in a wide array of services/products in the financial services sector and constitute the flagship financial services company of the Tata Group.

Tata Capital seeks to build strong relationships with its customers, and deliver a superior and consistent customer experience across all products and touch-points.

Contact Information

Mr.Puneet Sharma,Chief Financial Officer
Tata Capital Limited
1st Floor | A Wing | One Forbes | Dr. V. B. Gandhi Marg | Fort | Mumbai 400 001 | India
Board Line 91 22 6745 9000 | Direct Line 91 22 6745 9007 | Mob 91 9987615978

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/