WayCool Foods Private Limited (India) (DFC-WAYCOOLFOODS)

Countries
  • India
Where the impacts of the investment may be experienced.
Financial Institutions
  • US International Development Finance Corporation (DFC)
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.
Borrower
WayCool Foods Private 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)
Guarantee
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 5.50 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)
$ 24.40 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 @ DFC website

Updated in EWS Jun 10, 2020


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Project Description

According to bank documents,"OPIC will provide a five-year guarantee of a loan denominated in Indian Rupees (“INR”) and issued by an Indian commercial bank to the Borrower (the “Loan”). The Borrower will use the proceeds of the Loan to meet working capital needs as the company grows its food distribution network ahead of demand and expands into new regions and food products."

Investment Description
  • US International Development Finance Corporation (DFC)
Private Actors

US Sponsors: Soros Economic Development Fund, a nonprofit corporation organized under the laws of Delaware, Sanjay Dasari, Vinod Dasari and Sarita Dasari, individual U.S. Citizens.

Foreign Sponsors: Aspada Investment Company (24.10%), an investment holding company incorporated in Mauritius, Lightstone Fund S.A. (22.72%), Karthik Jayaraman (9.59%), Sakal Papers Private Limited (3.58%).

Contact Information

No contact information provided at the time of disclosure.