This is the fourth investment made by IFC in Granules India after it first made the debt and equity investment in 2007. New York: International Finance Corp. (IFC), the private-sector lending arm of the World Bank, on Monday said it will provide debt of $47.5 million (Rs318 crore) to drug maker Granules India Ltd to help finance its investment plans. The total investment required is estimated at about $84 million, with debt of $68.5 million, including IFC’s contribution. This is the fourth investment made by IFC in Granules India after it first made the debt and equity investment in 2007. The World Bank arm also committed to invest $20 million in IDG Ventures India’s third country-focused fund which has a target corpus of $200 million.

Source: Mint February 20, 2017 18:22 UTC