Kedaara II (IFC-39219)

Regions
  • South Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • India
Geographic location 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
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jun 22, 2017
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Kedaara Capital Fund II LLP
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 27, 2018

Disclosed by Bank May 23, 2017

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Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

IFC proposes an equity investment of up to US$40 million in Kedaara Capital Fund II LLP (the "Fund"), which plans to invest its capital commitments across 10-12 mid-market companies in India. The Fund is a limited liability partnership formed under the Limited Liability Partnership Act, 2008 and will be advised by Kedaara Capital Advisory Services LLP. The Fund’s target sectors include logistics, packaging, specialty chemicals & ingredients, pharmaceuticals and potentially finance companies.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The Fund Manager is an Indian limited liability partnership formed under the Limited Liability Partnership Act, 2008 and is governed by a limited liability partnership agreement amongst its partners, Manish Kejriwal, Sunish Sharma and Nishant Sharma. The Fund Manager will be engaged by the Fund to provide investment research and support services. The Fund Manager and its affiliates have a 16 member team consisting of 13 investment professional and 3 senior operating partners.

The proposal is for IFC to make an equity investment of up to US$40 million (not to exceed 20% of total commitments) in the Fund.

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Kedaara Capital Fund II LLP is a limited liability partnership formed under the Limited Liability Partnership Act, 2008 and will be advised by Kedaara Capital Advisory Services LLP. 

The Fund Manager is an Indian limited liability partnership formed under the Limited Liability Partnership Act, 2008 and is governed by a limited liability partnership agreement amongst its partners, Manish Kejriwal, Sunish Sharma and Nishant Sharma. The Fund Manager will be engaged by the Fund to provide investment research and support services. The Fund Manager and its affiliates have a 16 member team consisting of 13 investment professional and 3 senior operating partners.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Kedaara Capital Advisors LLP
Rishiraj Khajanchi

Board Number : +91 22 61558000 | Direct Line : +91 22 61558030 | Cell: +91 9867328210
rishiraj.khajanchi@kedaara.com
Sunshine Tower, 38th Floor, Senapati Bapat Marg, Parel, Mumbai 400013
www.kedaara.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/

How it works

How it works