PROJECT

Projects

Summary of Investment Information

Project Number

48845

Company Name

CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED

Date SPI Disclosed

Nov 20, 2023

Country

India

Region

South Asia

Projected Board Date

Dec 22, 2023

Environmental Category

FI-3 - No Impact

Status

Active

Last Updated Date

Jan 13, 2024

Department

Regional Industry - FIG Asia & Pac

Industry

Financial Markets

Previous Events

Approved : Dec 21, 2023
Signed : Dec 22, 2023
Invested : Jan 11, 2024

Sector

Other Non-Banking Financial Institution (NBFI)

Project Description

The proposed investment comprises an IFC own account debt investment of up to US$150 million in Cholamandalam Investment and Finance Company Limited (Chola, or the Company). The entire proceeds from IFC’s investment will be used by Chola towards on-lending for affordable housing finance. At least 25% of the issue proceeds for providing affordable housing finance to women borrowers.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation