PROJECT

Projects

Summary of Investment Information

Project Number

48383

Company Name

TATA CAPITAL FINANCIAL SERVICES LIMITED

Date SPI Disclosed

Jan 8, 2024

Country

India

Region

South Asia

Projected Board Date

Dec 11, 2023

Environmental Category

FI-3 - No Impact

Status

Active

Last Updated Date

May 5, 2024

Department

Regional Industry - FIG Asia & Pac

Industry

Financial Markets

Previous Events

Approved : Dec 11, 2023
Signed : Dec 14, 2023
Invested : Dec 21, 2023

Sector

Other Non-Banking Financial Institution (NBFI)

Project Description

The proposed investment comprises up to US$125 million equivalent investment in Tata Capital Financial Services Limited (TCFSL or the Company) through subscription of secured, redeemable non-convertible debentures (NCDs) to be issued by the Company. TCFSL, a wholly-owned subsidiary of Tata Capital Limited (TCL) and has a diversified portfolio across retail, small and medium enterprises (SMEs), and corporates. As of March 2023, TCFSL has an asset under management (AUM) of US$8.77 billion, supported by an equity base of US$1.25 billion The proceeds of the IFC investment will be primarily used to expand TCFSL’s microfinance portfolio, of which 100% of the loans are provided to women-owned micro-enterprises on a joint-liability-group (JLG) model (the Project).

Associated Advisory Engagement

               

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation