IFC invests $35 mn in JK Paper for debt funding
By MYBRANDBOOK
International Finance Corporation (IFC) has announced to invest up to $35 million (Rs 263 crore) in paper manufacturer JK Paper. IFC has stated that it will invest by subscribing to secured non-convertible debentures (NCDs) of the Singhania Group company. The company will primarily use the funds to meet the incremental working capital needs due to the impact of the ongoing coronavirus pandemic.
JK Paper is one of India's largest producers of office, printing, writing and specialty paper, and packaging boards.
This investment is the latest example of IFC’s commitment to India, which is its single-largest portfolio market. Apart from its direct investments that involve both equity and debt funding, the institution also actively invests PE and VC funds.
In 2018, IFC had invested $45 million in the form of NCDs in JK Paper to help the company increase productivity at its two plants in Odisha and Gujarat, and to refinance existing debt.
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
MOVERS & SHAKERS
OPEN YOUR EYES
INTERVIEWS
HOT PICK
MAKE IN INDIA BRANDS
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : Kumar Mangalam Birla
Aditya Birla Group chairman Kumar Mangalam Birla recently made a comeb...
PARTNER SPEAKERS
PSU
PFC - Power Finance Corporation Ltd
PFC is a leading financial institution in India specializing in power ...
IREDA - Indian Renewable Energy Development Agency Limited
IREDA is a specialized financial institution in India that facilitates...
IFFCO - Indian Farmers Fertiliser Cooperative
IFFCO operates as a cooperative society owned and controlled by its fa...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - ANJALI SUD, CEO – Tubi
Anjali Sud, the former CEO of Vimeo, now leads Tubi, Fox Corporation�...
Indian Tech Talent Excelling The Tech World - ARVIND KRISHNA, CEO – IBM
Arvind Krishna, an Indian-American business executive, serves as the C...
Indian Tech Talent Excelling The Tech World - REVATHI ADVAITHI, CEO- Flex
Revathi Advaithi, the CEO of Flex, is a dynamic leader driving growth ...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
