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Bajaj Finances Eyes a $150mFunding from IFC
May 12, 2017
India’s one of the largest consumer and business financing company Bajaj Finance is looking to raise about Rs. 1000 crore ($150 million) from International Finance Corporation.
IFC has revealed that it would be subscribing to the non-convertible debentures of Bajaj Finance for lending to MSMEs. It also stated its intentions of investing as much as $100 million in Fullerton India Credit Company and about $50 million in Capital First.
The investments of IFC’s are a part of its plans to finance 10 million MSMEs between 2017 to 2021.
