Au Fin Debt (IFC-36838)

Countries
  • India
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
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
Nov 23, 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
AU FINANCIERS (INDIA) LIMITED
The holder of the loan, grant, or other investment.
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, etc.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. 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

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
  • International Finance Corporation (IFC)

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).

Private Actors

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

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