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.
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
FRESHWORKS TECHNOLOGIES PVT. LTD.
SAMRIDDHI AUTOMATIONS PVT. LTD.
TAC SECURITY SOLUTIONS
BPE INDIA PVT. LTD.
Icons Of India : PRATIVA MOHAPATRA
Prativa is a transformational leader with an incredible breadth of exp...
Icons Of India : MUKESH D. AMBANI
Mukesh Dhirubhai Ambani is an Indian businessman and the chairman and ...
ICONS OF INDIA : VINAY SINHA
Vinay Sinha is the Managing Director of Sales for the India Mega Regio...
PFC - Power Finance Corporation Ltd
PFC is a leading financial institution in India specializing in power ...
TCIL - Telecommunications Consultants India Limited
TCIL is a government-owned engineering and consultancy company...
ITI - ITI Limited
ITI Limited is a leading provider of telecommunications equipment, sol...
Indian Tech Talent Excelling The Tech World - Aman Bhutani, CEO, GoDaddy
Aman Bhutani, the self-taught techie and CEO of GoDaddy, oversees a co...
Indian Tech Talent Excelling The Tech World - Thomas Kurian, CEO- Google Cloud
Thomas Kurian, the CEO of Google Cloud, has been instrumental in expan...
Indian Tech Talent Excelling The Tech World - PADMASREE WARRIOR, Founder, President & CEO - Fable
Padmasree Warrior, the Founder, President, and CEO of Fable, is revolu...