SLCM Myanmar Limited (IFC-38278)

Countries
  • Myanmar
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
Jan 15, 2018
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
SOHANLAL COMMODITY MANAGEMENT LIMITED
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • Construction
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)
$ 6.00 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.
Loan Amount (USD)
$ 6.00 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)
$ 9.00 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 Sep 16, 2019

Disclosed by Bank Nov 8, 2017

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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.

Sohanlal Commodity Management Pvt. Ltd (“SLCM” or the “Parent”) is a leading post-harvest agri supply chain solutions provider in India. It offers warehouse and collateral management, procurement of agricultural commodities and commodity-backed / warehouse receipt financing to agri businesses.

SLCM’s Myanmar-based subsidiary, SLCM Ltd. (“SLCM Myanmar”), provides warehouse and collateral management services in Myanmar as well as commodity-backed finance facilitation to small agri businesses, traders and farmer organizations. SLCM seeks to invest US$9.0 mn to grow the commodity-backed finance facilitation operations in Myanmar with the help of IFC (the “Project”).

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

The total project cost is US$9.0mn. IFC proposes to support the Project with US$6.0 million in funding, comprising a US$3.0 million A-loan from IFC’s own account and a US$3.0 million loan in its capacity as Implementing Entity of the Private Sector Window of the Global Agriculture and Food Security Program (GAFSP). Other funds have been availed in the form of equity investments from the Parent and a short term revolving credit facility from the State Bank Of India, Yangon Branch.

 

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.

Sohanlal Commodity Management Pvt. Ltd is a leading post-harvest agri supply chain solutions provider in India. It offers warehouse and collateral management, procurement of agricultural commodities and commodity-backed / warehouse receipt financing to agri businesses. 

 

SLCM was started by the Group CEO Mr. Sandeep Sabharwal (the “Sponsor”), an acknowledged entrepreneur in the sector and the largest shareholder. He is a member of the committee on electronic depository of warehouse receipts of Central Depository Services (India) Limited. Prior to SLCM, Mr. Sabharwal has managed businesses across the agriculture value chain. A number of institutional investors comprise the remaining shareholders, namely Nexus Venture Partners, Mayfield FVCI, Everstone Capital, Emerging India Fund, Creation Investments Capital Management, responsAbility Investments AG, and the Agricultural and Rural Impulse Fund (agRIF).


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.

Sohan Lal Commodity Management Pvt Ltd.
Namrata Suri
Chief Financial Officer
+911171110100

DLF Tower, 15 Shivaji Marg, Moti Nagar, New Delhi - 110015
http://sohanlal.in/

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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