SHTF Sec. (IFC-42375)

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 27, 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
Shriram Transport Finance Company 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)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 11, 2019

Disclosed by Bank Feb 25, 2019


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Project Description

According to IFC, "The proposed project envisages a rupee denominated investment into securitized assets of Shriram Transport Finance Company Limited (“STFC” or the “Company”) of US$200 million equivalent. Of the proposed amount, the intention is that 50% of the investment will be achieved through mobilization. The proceeds of the proposed project will help the Company meet its funding requirements and allow it to continue grow its reach to micro, small and medium enterprise (MSME), particularly in the low-income states(LIS) and rural regions of India."

Investment Description
  • International Finance Corporation (IFC)
Private Actors

According to IFC, the shareholding structure of STFC as of December 31, 2018 is as follows: Shriram Capital Limited (26.08%), Piramal Enterprises Limited (9.96%), Sanlam Life Insurance Limited (2.98%), public (10.20%), mutual funds/banks (4.46%) and foreign institutional investors/foreign portfolio investors (46.32%).

Contact Information

Shriram Transport Finance Company Limited
Swaminathan Ramamurthi
Senior Vice President
+91-22-40959595
swami@stfc.in
3rd Floor, Wockhardt Towers, West Wing, G-Block, Bandra-Kurla Complex, Bandra (East), Mumbai-400051
www.stfc.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/