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International Finance Corporation, the private equity arm of World Bank, looks to invest up to $100 million in bonds of Fullerton India Credit Company, it said in a disclosure.
Fullerton India, fully owned by Singapore-based by Advertisement" would use the fund for on-lending to micro, small and medium enterprises. It has a strong focus on lending to rural and urban micro and small enterprises and also leads to affordable housing segment.
IFC said it has proposed to invest up to $100 million through subscription to the company's non-convertible debentures and/or rupee denominated masala bonds. IFC said Fullerton's mass market customer segments fits well with its mission.
Earlier in October last year, Fullerton had raised Rs 500 crore by selling masala bonds through a private placement to Swiss bank Credit Suisse.