/ Bajaj Finance Likely To Raise USD150 Million From International Finance Corporation ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Tuesday, 9 May 2017

India’s leading financing enterprise, Bajaj Finance is likely to raise funds worth USD150 million or Rs 1000 crore from a member of the World Bank Group, International Finance Corporation. 

In an announcement, IFC confirmed that it will subscribe to Bajaj Finance’s non-convertible debentures in order to on-lend to micro, small and medium enterprises.

IFC is also likely to invest nearly US100 million in Fullerton India Credit Company and USD50 million in Capital First, in accordance with the organisation’s strategic target to inject capital in 10 million MSMEs between 2017 and 2021.  

Pune-based Bajaj Finance had reported a total asset of nearly USD9.23 Billion at the end of December 2017, whereas the parent company Bajaj Finserv reported a 36% increase in net profit at Rs 556 crore for Q3FY17.

Bajaj Finance, the Pune-based non-bank lender, has total assets under management of around $9.23 billion at the end of December with 43% of its assets being under consumer financing and 42% of SME financing. 

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