Tata Housing (IFC-36345)

Regions
  • South Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • India
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
May 13, 2016
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
TATA CAPITAL HOUSING FINANCE LIMITED
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 60.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. 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, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 24, 2019

Disclosed by Bank Nov 25, 2015

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed 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
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a 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
Here you can find a list of individual development financial institutions that finance the project.
Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

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
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

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/

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How it works