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ORIX Corp pumps USD 25 mn into Indian arm

Press Trust of India  |  New Delhi 

Japanese leasing and firm Corporation today said it has infused USD 25 million (over Rs 150 crore) in its Indian arm Auto Infrastructure Services Ltd (OAIS).

This is the second capital infusion from Corp in its Indian operations. The last one was in 2013.

The funding will be used to accelerate growth in the existing businesses, expansion of vertical 'MyChoize' and launch of an affordable housing company in India, the company said in a statement.

OAIS, a wholly-owned subsidiary of Corporation, is into B2B and leasing and employee provider, among others.

"The additional equity would help augment the existing businesses as well as support some of our key new initiatives such as self drive and affordable housing for which a new housing company will be formed soon," OAIS Sandeep said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, January 08 2018. 13:15 IST