According to IFC documents, the proposed investment comprises a senior debt investment of up to US$250 million in HDFC Limited (HDFC or the Company). The loan proceeds will be used to provide retail buyers financing for affordable housing with a mutually agreed portion of IFC funding to be earmarked for green affordable housing
The Project is in line with the Government of India's "Housing for All by 2022" initiative. The most significant, expected project-level outcome is increased access to financing for affordable housing for lower and middle-income segments. The Project will also support HDFC in gradually growing its nascent green housing portfolio. Beyond the Project, IFC anticipates that the investment, together with other IFC's efforts in the segment, will help promote greater competitiveness in affordable housing financing via demonstration and replication channels.
The proposed investment is a US$250 million A-loan on IFC’s own account.
HDFC was incorporated in 1997 and is the first specialized housing finance company in India. It is involved in providing finance to individuals, corporates/developers for the purchase, construction, development and repair of houses and commercial properties in India. To date, HDFC has financed over 8.1 million housing units cumulatively. It has evolved since incorporation into a financial conglomerate and has subsidiaries/associates that are market leaders in financial services segments like banking, insurance, asset management.
HDFC’s shares are listed on the Bombay Stock Exchange (BSE), India, and the National Stock Exchange (NSE), India, and the Corporation’s Synthetic INR Denominated bonds are listed on the London Stock Exchange. 100% of the Company is owned by public shareholders. Of the same, 8.3% with mutual funds, 72.8% with foreign portfolio investors, 7.5% with insurance companies, 8.1% with individuals and balance 3.3% with others.
You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries
If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.
ACCOUNTABILITY MECHANISM OF IFC/MIGA
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