PROJECT

Projects

Summary of Investment Information

Project Number

51544

Company Name

DCM SHRIRAM LIMITED

Date SPI Disclosed

Oct 31, 2025

Country

India

Region

South Asia

Projected Board Date

Dec 5, 2025

Environmental Category

B - Limited

Status

Active

Last Updated Date

Mar 23, 2026

Department

Regional Industry - MAS Asia & Pac

Industry

other

Previous Events

Approved : Jan 8, 2026
Signed : Feb 23, 2026
Invested : Mar 11, 2026

Sector

Sugar Refining and Sweetener Production

Project Description

 The proposed investment is through Non-Convertible Debentures (“NCDs”) of up to INR 13,125 million (US$150 million equivalent) issued to DCM Shriram Limited (“DCM Shriram” or the “Company”) to partly finance the Company’s capex plan for FY25 to FY27 (the “Project”). The Project is expected to comprise (i) aluminum chloride and calcium chloride production facility at a new site in Jhagadia, Bharuch, Gujarat; (ii) maintenance, project capex and refinancing of loans for the sugar mills at Loni, Hariawan and Ajbapur and  distillery plants in Ajbapur and Hariawan (all in Uttar Pradesh) (iii) maintenance and project capex for chlor-alkali production in Kota, Rajasthan; and (iii) long-term working capital of the Company.

Associated Advisory Engagement

 The Company maintains a strong and consistent focus on climate change mitigation and sustainability and is collaborating with IFC on climate mitigation strategies. IFC will provide a decarbonization advisory to recommend deep-decarbonization solutions, evaluate the techno-commercial feasibility of identified carbon reduction and carbon offset opportunities, and provide implementation support at a later stage.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation