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Murugappa Group's NBFC Cholamandalam Investment raises $222 million

This is the company's first US dollar-syndicated deal since January 2019, when the Reserve Bank of India permitted NBFCs to tap into the offshore credit market

Topics
Cholamandalam Investment  |  Murugappa Group  |  Nbfc

T E Narasimhan  |  Chennai 



money, investment, private equity, PE, banks

The Corporation (IFC), a member of the Group, said on Wednesday that it has anchored an investment round of $222 million into and Company Ltd (CIFCL). The money will help the Murugappa Group's expand access to for micro and small borrowers, especially in the rural and semi-urban parts of India.

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First Published: Wed, May 29 2019. 17:14 IST

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