Au Fin Debt (IFC-36838)

Countries
  • India
Geographic location where the impacts of the investment may be experienced.
Specific Location
Rajasthan, Maharashtra, Gujarat, Madhya Pradesh, Punjab, Goa, Chattisgarh, Delhi, Himachal, Haryana
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Nov 23, 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
AU FINANCIERS (INDIA) LIMITED
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
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)
$ 50.00 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 Jul 24, 2018

Disclosed by Bank Sep 1, 2016

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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.

Au FINANCIERS (INDIA) LIMITED (Au or the Company) is a regional non-banking finance company (NBFC), operating in the low income state of Rajasthan and other states such as Maharashtra, Gujarat, Madhya Pradesh, Punjab, Goa, Chhattisgarh, Delhi, Himachal Pradesh and Haryana. It primarily originates loans which are classified under priority sector and agriculture lending as per Reserve Bank of India (RBI) guidelines. These loans are targeted at segments that find it challenging to access bank financing.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Sanjay Agarwal (Promoter and Managing Director) a Chartered Accountant by profession, is a first generation entrepreneur and has more than 20 years of experience in the finance industry. He has established a credible reputation in the local markets and has played a key role in establishing Au as a brand in local markets

Other major shareholders in Au Financiers include IFC, Warburg Pincus, Chrys Capital, and Kedaara Capital.

IFC proposes to invest up to US$50 million (INR equivalent) in Au Financiers (India) Ltd. through Non-Convertible Debentures (NCD).

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.

Au FINANCIERS (INDIA) LIMITED (Au or the Company) is a regional non-banking finance company (NBFC), operating in the low income state of Rajasthan and other states such as Maharashtra, Gujarat, Madhya Pradesh, Punjab, Goa, Chhattisgarh, Delhi, Himachal Pradesh and Haryana. It primarily originates loans which are classified under priority sector and agriculture lending as per Reserve Bank of India (RBI) guidelines. These loans are targeted at segments that find it challenging to access bank financing.

Sanjay Agarwal (Promoter and Managing Director) a Chartered Accountant by profession, is a first generation entrepreneur and has more than 20 years of experience in the finance industry. He has established a credible reputation in the local markets and has played a key role in establishing Au as a brand in local markets

Other major shareholders in Au Financiers include IFC, Warburg Pincus, Chrys Capital, and Kedaara Capital.


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.

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/

CONTACTS

Mr. Deepak Jain,
Chief Financial Officer
Au Financiers (India) Ltd.
19-A Dhuleshwar Garden
Ajmer Road
Jaipur 302 001
Telephone : (+91)(0141) 391 0000
Fax : (+91)(0141) 236 8815
Email : mailto:deepak.jain@aufin.in

How it works

How it works