Doshion was incorporated in 1978 by Mr. Dhirajlal Shivlal Doshi as a partnership in the business of manufacturing resins. Since then, the Company has expanded itself into a full-fledged water cycle management company.

The current shareholders of the Company include – a) key directors including Mr. Dhirajlal Shivlal Doshi, Mr. Ashit Dhirajlal Doshi, Mr. Rakshit Dhirajlal Doshi, Mr. Amit Dhirajlal Doshi, Mr. Sujit Dhirajlal Doshi and their families; and b) IDFC Private Equity Fund.

The Company has a subsidiary called Doshion Veolia Water Solutions Limited, which is a Joint Venture with Veolia Water Solutions and Technologies, France.

IFC is considering an equity/quasi-equity investment of the INR equivalent of up to US$24 million to finance expansion related capital expenditure, long term working capital and upcoming BOOT based water projects, Cross Country Pipelines and other EPC projects.

24.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	24.0

* These investment figures are indicative

IFC’s investment will be at the corporate level and will be used to fund several upcoming projects spread across India.

a) Create projects for water distribution and transmission thus increasing access to clean water
b) Create projects for treatment of waste water thus reducing water pollution
c) Generation of employment both during construction and operation stage.

a) IFC financing will meet long term capital requirements of a medium sized player in water market
b) IFC investment will act as a stamp of approval for the Company to raise subsequent multiple rounds of financing from IFC and other sources to support the Company''s growth in the water sector
c) Leverage IFC''s global knowledge and market presence to support Doshion''s entry into other emerging markets

This is a Category B project according to IFC’s Procedure for Environmental and Social Review of Projects. The proposed IFC equity investment in Doshion will support the Company''s capital expenditure and upcoming BOOT projects. As part of the environmental and social review process, the Company''s corporate environmental and social management system, policies and procedures were reviewed as well as its performance to date on ongoing projects. The scope of review included environmental, safety and health and social risks and impacts of the project and the Company’s management capacity to undertake such projects in the future, including how environmental and social consequences are taken into account, from screening of opportunities to planning, design, construction and operation phases.

Because the proposed equity investment may be used to support future, but as yet, undefined projects in addition to those identified, the principal environmental and social risks identified for the project which will require additional mitigation measures by the Company include implementation of a comprehensive environmental and social management system; and adoption of IFC environmental and social Performance Standards as part of the applicable legal and other requirements in its management system, including formal procedures for environmental and social screening of business opportunities (including any joint ventures) and new projects into its marketing strategy, commercial planning, and project bidding processes.