FCL II (IFC-42394)

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
Approved
Bank Risk Rating
B
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
May 15, 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
FUTURE CONSUMER LIMITED
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
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)
$ 30.32 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 2100
Converted using 2019-06-04 exchange rate.
Project Cost (USD)
$ 50.53 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 3500
Converted using 2019-06-04 exchange rate.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 19, 2019

Disclosed by Bank May 21, 2019


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Project Description

According to the bank website, the Company plans to raise capital for (i) investment in development and expansion of manufacturing and processing operations for food and HPC products; (ii) expansion of its rural distribution network; (iii) working capital requirements; and (iv) meet upcoming debt repayments.

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

Future Consumer Limited
Manoj Gagvani
Company Secretary & Head Legal
+91 22 61994108
manoj.gagvani@futuregroup.in
Future Retail Home Office, 247 Park, Tower C, 8th Floor, LBS Marg, Vikhroli West, Mumbai - 400 083
www.futureconsumer.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/