PROJECT

Projects

Summary of Investment Information

Project Number

49172

Company Name

FIVE-STAR BUSINESS FINANCE LIMITED

Date SPI Disclosed

Apr 25, 2024

Country

India

Region

South Asia

Projected Board Date

Apr 2, 2024

Environmental Category

FI-3 - No Impact

Status

Active

Last Updated Date

May 2, 2024

Department

Regional Industry - FIG Asia & Pac

Industry

Financial Markets

Previous Events

Approved : Apr 2, 2024
Signed : Apr 16, 2024
Invested : Apr 22, 2024

Sector

Other Non-Banking Financial Institution (NBFI)

Project Description

The proposed investment comprises of an IFC own account debt investment of up to INR5 billion (approximately US$60 million) in Five Star Business Finance Limited (Five Star, or the Company). The entire proceeds from IFC’s investment will be utilized by the Company for growing its business loans portfolio targeting small business owners (micro-entrepreneurs) and self-employed individuals. At least 55% of the investment proceeds will be utilized by the Company for on-lending to women as primary borrowers.                                                   

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation