Mahindra Kiran to raise $26 million from IFC

Mahindra Kiran, promoted by Mahindra Group and Kiran Energy, will raise $26 million from International Finance Corporation (IFC) to support its $105-million investment plan in Rajasthan. Mahindra Kiran is a joint venture between Mahindra, which owns 26 per cent and Kiran Energy, which owns 74 per cent. According to IFC’s project disclosure, of the $26 million, S$15.9 million equivalent is proposed to be lent to Mahindra Suryaprakash and $10.1 million to Solarfield.