36091 - PFS II

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Summary of Investment Information

Project Number

36091

Company Name

PTC INDIA FINANCIAL SERVICES LIMITED

Date SPI Disclosed

Jan 21, 2015

Country

India

Region

South Asia

Projected Board Date

Feb 23, 2015

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Jun 22, 2025

Department

Regional Industry - FIG Asia & Pac

Industry

Financial Markets

Previous Events

Approved : Feb 25, 2015
Signed : Apr 28, 2015
Invested : Jun 2, 2015

Sector

Other Non-Banking Financial Institution (NBFI)

Project Description

PTC India Financial Services Limited (PFS or the Company) is a public listed non-deposit taking, non-banking finance company (NBFC) that has been categorized as an Infrastructure Finance Company by the Reserve Bank of India. PFS is focused on funding projects across the energy value chain in India. The Project, which includes subscription of non-convertible debentures to be issued by PFS, will allow PFS to utilize these funds to increase investments in renewable energy (RE) i.e. solar and wind projects. This is in addition to the existing senior loan facility that has been provided by IFC to the Company in 2011.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	34.46
Equity

Development Impact

1. Demonstration Effect: PFS is a growing financial intermediary and its expansion in this space would help attract other local and international financial institutions to increase their risk appetite and invest more in these sectors.

2. GHG Savings: The proposed investment will result in GHG emissions savings as it will encourage power generation from renewable and climate friendly fuels. This is critical in view of GOI''s overall intention to reduce carbon emissions.

3. Wider Impact: With IFC''s support, PFS can finance a wider range of clients in the RE space (wind and solar) and contribute to the increase of RE generation base in India.

1. Long term tenor: IFC''s loan, being long term will help PFS provide funding for long gestation RE projects

2. Sector Expertise: IFC has gained vast experience in the RE space through several transactions including in emerging areas like solar and wind. This experience positions IFC well to be able to help PFS develop knowledge and risk assessment capabilities.

3. Funding diversification: IFC''s investment would allow PFS to meet its funding requirements from a diversified source and assist in reducing its reliance on bank borrowings.

4. Environmental & Social Standards: Given IFC''s expertise in environmental and social (E&S) standards, IFC is well positioned in developing global best E&S standards for its clients to adopt.

Indicator	Metrics	Comments	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
CORE - E and S Management Systems (Y/N)	Compliance/Enhancement		Not Available	Not Available	Not Available

E&S Category Rationale / Risks and Mitigation

The company is focusing on the renewable energy space and energy value chain financing and provides financial assistance through debt, equity and quasi-equity to companies and projects in the power sector. The Company also provides fee based syndication and advisory services. IFC's credit line is in the form of subscription to NCDs to be issued by the Company. The intended use of proceeds of the IFC NCDs shall be to finance Eligible Sub-projects by way of Sub-loans to Eligible Sub-borrowers. The asset class comprises upto 20 MW Solar projects and upto 24 MW wind projects in India. The IFC Investment shall not be used to invest in equity or quasi-equity instruments issued by Eligible Sub-borrowers. The asset class as defined by the eligibility criteria will be overall medium-low risk.

Task Title & Description	Actual Due Date	Status	Comments	Completion Date
Formalize procedures		Completed	Email from client with approved Board minutes	05/26/2015
Other1 Submit due-diligene reports and agree on corrective actions		Completed	ESDDs submitted	05/27/2015

Contacts

For Inquiries About the Project, Contact

For inquiries about the project, contact:
Dr Pawan SinghDirector FinancePTC India Financial Services Limited7th Floor Telephone Exchange Building,
8 Bhikaji Cama Place, New Delhi 110066
Phone: +91-11- 26737300/ 26737400

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