ISFC Equity (IFC-41234)

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
Proposed
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
Jul 29, 2019
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
Indian School Finance Company Private Limited
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 15.00 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 Sep 5, 2019

Disclosed by Bank Jun 18, 2019


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Project Description

According to the bank website, "The project involves investing up to US$15mn equity and up to US$15mn debt in Indian School Finance Company Pvt Limited (ISFC or the Company), a Non-Banking Finance Company (NBFC) that provides loans to educational institutions. ISFC caters to affordable private schools, colleges, coaching centers, education SMEs and retail loans to teachers. The project supports the growth of India’s affordable private schools which are critical to providing quality education, especially for low income families."

Investment Description
  • International Finance Corporation (IFC)
Private Actors

According to IFC, The Company’s current shareholding stands as: Gray Matters Capital & affiliates (81.9%), Caspian Advisors (3.5%), key management and employees (14.6%).

Contact Information

No project-specific contact information available at time of writing.

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/