According to IFC website, the proposed investment comprises s senior debt investment in Piramal Capital & Housing Finance Limited, a housing finance company. The expected development impact is to provide access to housing finance. This will help in expanding the outreach of access to housing finance loans. IFC's support to PCHFL is aimed at supporting PCHFL's strategic intention to grow its affordable housing portfolio in a significant way in the near term.
IFC proposes to invest up to US$150 million in PCHFL in the form of senior debt investment. In addition, IFC would assist PCHFL in mobilizing up to an additional US$200 million through Parallel Loans.
IFC’s loan will be utilized for on-lending to retail housing finance sector.
PCHFL is a 100% owned subsidiary of Piramal Enterprises Limited (PEL). Key shareholders of PEL other than the Promoter Group include East Bridge Capital Master Fund & I Limited (6.3%), Life Insurance Corporation of India (3.48%) and Aberdeen Global Indian Equity Limited (1.3%). The Promoter of PEL is Mr. Ajay Piramal.
Piramal Capital & Housing Finance Limited
Ms. Dimple Kapur
Group Head Branding & Corporate Communications
+91 22 61513400
Email Address: firstname.lastname@example.org
Lower Parel West, Lower Parel, Mumbai 400013
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