Original disclosure @ IFC website
Updated in EWS Mar 11, 2019
Disclosed by Bank Feb 26, 2019
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According to the bank website, "the proposed investment involves up to US$150 million (or equivalent in INR) debt investment in Bajaj Finance Limited (“BFL” or the “Company”). The proceeds will be used for on-lending to Small and Medium Enterprises (“SMEs”) in Low Income States. In addition, BFL will match IFC’s investment 3x by contributing up to US$450 million (or equivalent in INR) from its own balance sheet. BFL is a diversified NBFC registered under the Reserve Bank of India, operating across different business segments - Consumer (40%), Mortgage (28%), SME (13%), Commercial (11%), and Rural (8%). As of Dec 31, 2018, BFL has total assets under management of around US$ 15.56 billion and has reached out to more than 32.5 million customers through a widespread network branches and customer touch points."
According to IFC, BFL is part of the Bajaj Group, one of the largest corporate houses in India engaged in auto manufacturing and financial services. Bajaj Finserv Limited, the holding company for the financial services businesses of the Bajaj Group, owns 54.9% of BFL and also holds interests in life and general insurance. Bajaj Finserv reported a market cap of US$14.3 billion as on 25th Feb’19.
Bajaj Finance Ltd
Mr. M. M. Muralidharan
+91 20 30186403
4th Floor, Bajaj Finance Ltd, Viman Nagar, Pune, Maharashtra 411014
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