DCM Manappuram (IFC-41994)

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
Mar 20, 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
MANAPPURAM FINANCE 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 Amount (USD)
$ 75.00 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 Mar 11, 2019

Disclosed by Bank Feb 15, 2019


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Project Description

The proposed project comprises a 3-year senior, secured debt funding of up to INR 5,400mn (US$75mn) to Manapurram Finance Limited (‘MFL’). IFC’s investment will be structured by splitting the facility as US$30mn towards Kerala and $45mn to be utilized in Low Income States (‘LIS’). The proposed project relates to supporting MFL in extending finance to the most vulnerable sections of Kerala after the state witnessed one of its worst floods and for utilization in LIS of India.

Investment Description
  • International Finance Corporation (IFC)
Private Actors
Contact Information

Manappuram Finance Limited
Bindu AL
EVP Finance
0487 - 3050301
bindhu@manappuram.com
Manappuram House, P.O Valapad, Thrissur, Kerala - 680567
www.manappuram.com

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/