IFC to invest around $150 million in Aditya Birla Finance

The International Finance Corporation (IFC) is planning to invest upto $150 million in Aditya Birla Finance Ltd (ABFL). 

The proceeds shall be used by ABFL to fund solar projects in select states.

IFC proposes to invest up to $150 million (INR equivalent) through an INR ECB loan issued under Track III of RBI’s ECB guidelines, or subscription to secured, fixed, rated, listed Non-Convertible Debentures (NCDs) proposed to be issued by ABFL, said the World Bank's investment arm.

The INR ECB loan will be issued under Track III of RBI’s ECB guidelines.  The NCD issuance shall comply with regulator Sebi's guidelines for green bonds.

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