devinitorg/iati-policy-markers huggingface dataset:
Indus Venture Fund II (see 7459 - Indus Mauritius- for  Mgmt Co.) SUMMARY OF PROJECT INFORMATION      Project Name		India -Indus Venture Fund II (Indus II)    Region			Asia    Sector 			Capital Markets    Project No.		005098    Projected Board Date	September 18, 1995    Company Name		Indus Venture Fund II     Technical Partner and/or Major Shareholders    Indus Venture Management Limited (IVML) was founded by Mr. T Thomas, the former Chairman of Hindustan Lever.  Mr. Thomas, together with associates, holds 45% of IVML and 9.5% of Indus Venture Fund I (Indus I).  The other shareholder in IVML (in addition to IFC which holds 10%) is the Arvind Mafatlal Group, a leading Indian business house, which also holds 9.5% of Indus I.  The majority of Indus II will be raised from international investors.    Project Cost Including Proposed IFC Investment    			US$40-60 million   			IFC investment of up of $5 million    Location of Project and Description of Site    IVML is based in Bombay and has an office in Bangalore.  It provides advice and guidance to investee companies.  Additional regional offices are planned following the launch of Indus II, and it is intended that investments will be made throughout India.    Description of Company and Purpose of Project    Indus II is a US$40-60 million venture capital fund, to be subscribed through British Virgin Islands and Mauritius companies.  It will be managed by a Management Company based in Mauritius.  Indus II will invest in small- and medium-sized unlisted companies in India.  IVML will be Advisor to this Mauritius based Management Company.  This is the second fund to be promoted by IVML, a company founded in 1989 to manage Indus I.  IFC already holds 14% of Indus I (total size of US$7 million equivalent).  IFC has been asked to contribute US$5 million to Indus II, and will also play a role in structuring and securing commitments from other participants.       Environmental Category and Issues    This is an environmental review category Financial Intermediary project.  IVML will be required to undertake an environmental review of all eligible investee companies operations to ensure compliance with Government of Indias environmental regulations and applicable World Bank guidelines and environmental policies.  In addition, IFC will assess IVMLs capability to carry out environmental reviews of each investee company.     Date SPI sent to PIC	August 24, 1995    For additional information contact:  Corporate Relations Unit -   telephone:  (202) 473-7711   facsimile:  (202) 676-0365
DCM AUSFB Housing The proposed project envisages a debt investment (in the form of an IFC A Loan) of up US$100 million (in USD or in Indian Rupee equivalent of the USD amount) in AU Small Finance Bank Limited (AUSFB or the Bank). The investment will be for a tenor of up to 7 years. AUSFB will use the proceeds of the investment to grow its business of providing affordable housing loans for the purchase/construction and extension of houses to individuals in  India (the Project). Stakeholder effects  Improved access to affordable housing finance: Rapid urbanization in India and the lack of affordable housing finance has led to several challenges including congestion, pressure on basic amenities and a severe shortage of housing units in cities, especially in low-cost segment.  As per an RBI report as of September-2019, the housing shortage in India is estimated to increase to 100 million housing units by 2022, and out of this 95 percent of shortage is from Low Income Groups (LIG) and Economically Weaker Section (EWS),  segments with the remaining 5 percent of the shortage coming from Middle Income Groups (MIG) or above. 

Market Impact - Competitiveness: IFC's support for the Project, will promote greater competitiveness in the affordable housing segment, by demonstrating the viability of providing such financing to lower income segments like EWS and LIS. The housing market in India is very active with both banks as well as NBFCs and housing finance companies (HFCs) engaging in providing housing finance. However, most banks as well as the larger NBFCs and HFCs focus on providing housing finance to higher income groups, and lower income groups remain unserved/underserved despite the massive shortages of affordable housing for these groups. Although IFC has been supporting the development of affordable housing financiers through continued interventions, the shortage is substantial and would require continuous support, including supporting the development of small finance banks and medium-sized regional NBFCs and HFCs that service lower-income groups.
Laxmi Organic Laxmi Organic Industries Ltd (LOIL or the Company) is an Indian company producing specialty chemicals used in diverse end-user industries. The Company is undertaking an expansion (the Project), comprising brown field expansion of ethyl acetate (ETAC) and diketene derivatives (DD) products capacities, a coal fired co-generation facility and a greenfield facility to produce acetic anhydride. -	IFC''s proposed investment will help LOIL become a leader in adopting latest practices to ensure clean production. This is significant, especially in an industry where most medium-scale chemical manufacturers tend to follow polluting processes with minimal investment in waste effluent handling. LOIL has designed a zero discharge ETP for additional effluents generated from expansion projects where processed effluent will be used as feed water. -	The proposed investment in a thermal co-generation power plant will provide the most efficient âEnergy and Product Integration'' solution between steam intensive ETAC plant and power intensive DD plant.  -	LOIL is in the process of carrying out R&D for cost effective thermal solar panels which has potential to integrate with co-generation unit in DD plant. This pioneer design will mitigate LOIL''s reliance on fossil fuels and reduce its greenhouse gas footprint. -	The proposed expansion is expected to create nearly 70 jobs over the next two years and result in other indirect development benefits such as linkages with local suppliers, upgrade of existing infrastructure, and indirect employment creation through auxiliary businesses in the region and during construction phase. -	Considering that 70% of India''s current requirement for DD products is being imported, the proposed investment will facilitate self sufficiency and conserve foreign exchange.
Larsen & Toubro Larsen & Toubro (L&T, or  the company) is one of the largest engineering conglomerates in India. Its main line of business is engineering, procurement and construction (EPC) for large industrial, utilities and infrastructure projects, manufacturing of cement, and manufacturing of electrical and electronics equipment. The company is currently undertaking an operational and financial restructuring for which it has requested IFCs support. The restructuring involves refinancing of the existing loans as well as the refurbishment and modernization program that would enable the companys increased focus on exports of its products and services.
Everstone III The proposed project is an investment in Everstone Capital Partners III LP, a Singapore limited partnership (ECP III or the Fund), which will invest in equity and equity-linked instruments of companies that have significant operations in the Indian sub-continent and cater to or benefit from Indian domestic consumption and infrastructure development expenditures across various sectors.   ECP III is the successor to Indivision India Partners (Fund I), a $425 million 2006 vintage fund, and Everstone Capital Partners II (Fund II), a 2010 vintage fund with $580 million in capital commitments. Private sector development: Providing scarce equity capital to unlisted companies, as well as creating value in investees through capacity building, improving corporate governance and transparency, providing operational and financial expertise, supporting evaluation of new business opportunities and building strategic business partnerships.  Job creation: Fund will invest in mid-market companies and scale them into national and regional leaders, leading to job creation at a rate greater than the national average.  Environmental, Social and Governance ("ESG")  Standards: The Fund will adopt and transmit IFC's ESG  standards across investees, thereby contributing to sustainable economic development.
Vortex Project The proposed project involves an equity investment by IFC in Vortex Engineering Private Limited (Vortex) which develops and installs low cost ATMs across rural and semi-urban areas. Vortex is a pioneer in the development of ATMs that have low capital and operational costs, have a lesser power consumption as compared to conventional ATMs and are more suited for rural usage possessing the ability for biometric authentication, dispensing soiled notes and the capability to run on solar power. 1.	Increased access to finance in rural areas: The project is intended to increase access to finance; particularly basic banking services such as cash withdrawal and bill payment by installation of a large number of rural ATMs across India. These ATMs can potentially be used as a platform for transactions for other financial inclusion projects. 2.	Greenhouse Gases savings impact: Vortex''s rural ATMs consume substantially less power than conventional ATMs and can be operated using solar power. 3.	Demonstration effect: This project shall demonstrate a commercially viable model of domestically developed, technology enabled, low cost ATMs that can increase access to banking in previously unbanked areas through design of products tailor-made to suit the requirements of these areas and customer segment.
Ballarpur Industries Limited The Company  was incorporated in 1945 and is listed on all major stock exchanges in India. Over the years, it has remained well managed and consistently profitable. Mr. Gautam Thapar took over as the Managing Director in 1997 and since then, BILT has embarked upon a comprehensive restructuring aimed at becoming the market leader in the Indian writing and printing market. This restructuring is being implemented in two phases. In the first phase, BILT transformed itself from a conglomerate into a pure paper Company by stripping it of all its unprofitable investments and non-paper businesses, using the cash to retire high cost debt. The second phase of restructuring is at present underway and aims at establishing BILT as the largest integrated writing and printing paper manufacturer in India, with a total paper capacity of 230,000TPA and pulp capacity of 105,000TPA.  The Project involves capacity expansion at three of BILT''s paper manufacturing facilities through both, modernization and addition of new equipment. The Project would enhance the Company''s competitive strength by helping it acheive economies of scale and stabilize its capital base through a low debt/equity gearing necessary to ride out the cyclical nature of the cash flows in the sector.  The development impact of the Project is in terms of (i) enhancing the long-term viability of companies like BILT that are operating in cyclical industries by lowering their cost of funding and extending the maturity of debt obligations, thus stabilising its cash flows through periods of cyclicality; (ii) promoting social forestry - the Company ecncourages small farmers located close to the plant to grow eucalyptus and casuarina, which are sources of pulp,  by providing them with free saplings and other inputs. These cash-crops provide a stable income stream for the farmers, whose earning s are typically subject to seasonal fluctuation; (iii) the Company is developing innovative value added products to upgrade the market in quality, especially the lower-end segments like Creamwove; (iv) R&D efforts- which have resulted in substantial cost savings for the Company, passed on to the customers,  by improving efficiencies in raw material usage.  IFC''s role in this project is two-fold : (i) Extending maturity of debt - Due to the cyclical nature of the paper industry, even strong companies like BILT are unable to source funding greater than 5 years. As a result cash flows are severely strained during a down cycle, leaving little surplus for debt servicing or modernization/expansion. The IFC guarantee will enable BILT to overcome this constraint by extending the maturity of debt available to it locally, by 5 years; (ii) Supporting BILT''s restructuring initiative - The IFC investment will support thr restructuring of a family owned conglomerate into a professionally managed group of individual companies focussed on individual business lines.
DCM Bajaj Finance table, .k-table{ border-collapse:collapse; width:100%; table-layout:fixed; margin-bottom: 15px;} .k-table, .k-table td, table, table td {outline: 0;border: 1px solid #000; } .k-table td, table td { padding: 5px; }    The proposed project involves the subscription by IFC to Non-Convertible Debentures issued by Bajaj Finance Limited ("BFL", the "Company") for on-lending to micro small and medium enterprise ("MSME").     BFL is a diversified NBFC operating across different business segments - Consumer (43%), SME (42%), Commercial (12%) and Rural (3%). As of Dec 31, 2016, BFL has total assets under management of around US$ 9.23 billion and has reached out to more than 19 million customers through a widespread network branches and customer touch points. The proposed investment would increase availability of financing to the MSME segment which lacks adequate access to finance despite being a key driver of the Indian economy. Within the SME space the transaction also intends to reach low income states and women-owned SMEs. SMEs in low income states have historically been under financed despite the region having a significant percentage of SMEs, support in this area will aid their inclusion into the formal financial system. Finally, since SMEs in India employ close to 40% of the workforce, access to credit for these entities will help them achieve scale while enhancing sector competitiveness and job creation.
iBus Networks The proposed IFC transaction is an equity investment of up to US$35 million in iBus Network and Infrastructure Private Limited (iBus, or the Company) which provides host-neutral in-building connectivity solutions (IBS) in India and serves hospitality customers through managed Wi-fi services (MWS). IFC investment will be used to buy shares of existing investors in order to provide non-commercial risk mitigation and capacity building on areas including Environmental, Social and Governance. IFC anticipates that the Project will lead to improved access to quality digital connectivity for individuals and businesses in India, by strengthening last-mile digital connectivity through the expansion of connectivity solutions at the network edge, i.e., closer to the end-users. The Project involves a significant expansion of outdoor connectivity technologies in densely populated city areas, indoor connectivity technologies in metro stations, airports, and tunnels, as well as Wi-Fi in living spaces across hotels, education campuses, hospitals, and shopping malls. This investment is expected to result in increased competitiveness of the market for digital connectivity in India through the scaling up of a technological innovation that could be replicated market-wide and support the development of next-generation network technologies like 5G.
Bandhan Banking Transformation The proposed project involves an equity investment in (i) Bandhan Financial Services Limited (BFSL or Bandhan) which is an existing IFC investee and (ii) Bandhan Bank, which is expected to start banking operations pursuant to the receipt of in-principle approval by BFSL to start banking operations and fulfillment of all the conditions in accordance with the Reserve Bank of Indias (RBI) guidelines for licensing of new banks.   BFSL, which is currently registered as an NBFC-MFI is Indias largest microfinance institution in terms of number of borrowers and portfolio outstanding. BFSL is headquartered in Kolkata, West Bengal with a borrower base of more than 6.1 million women borrowers and a loan portfolio of approximately INR78,100 million (US$1.3 billion equivalent).  The proposed project intends to support the transformation of Bandhan to become a universal bank focused on low income households. Bandhan, by transforming into a Bank proposes to expand and diversify its operations to include a range of products such as savings, remittances, payments etc. and proposes to gradually build one of the finest micro, retail and SME banking platforms in the country with a specific focus on the under-banked population. 1.	Access to Microfinance: This Project will help in expanding the outreach of access to microfinance to borrowers who have little or no access to formal sources of financing.   2.	Balanced growth of Microfinance: This Project will promote a more balanced growth of microfinance in India by increasing access to savings services for low income households and enable a wider range of credit products which could increase asset creation and job creation (through higher ticket loans for scaling up businesses) and increase access to housing and education finance.
Fortis Healthcare Ltd Fortis Healthcare Limited (Fortis or the Company) plans to raise US$100 million from IFC through a combination of straight equity and Foreign Currency Convertible Bonds (FCCBs). This is a corporate financing with proceeds expected to be utilized to fund the Companys India growth plans and could partly be used for repayment of debt to reduce the overall Company leverage, in accordance with applicable law. The Company proposes to substantially increase its bed capacity in India over the next 3-5 years in India, including in second and third tier cities and low income states in India. 1) Inclusive growth: Fortis'' expansion plans include increasing the number of operational beds in Tier II/III cities, which currently lack good healthcare facilities. The project would improve the standards for clinical and managerial practices in these underserved areas.  2) Reach: The Company will be able to increase the number of patients treated substantially through its proposed expansion.  3) Jobs: Fortis employs over 22,000 people and with the Company increasing capacity, job additions will be significant.  Further, a substantial portion of its employees are women; 4) Knowledge transfer/demonstration effect: The Company will bring best managerial and clinical practices to underserved markets;
Avigo PE Investments Ltd. Avigo SME Fund III (the Fund or Avigo III), seeks to raise up to $300 million for investments in the high growth Small and Medium Enterprises in India.  The eight-year closed-end private equity fund is a follow-on fund of Avigo SME Fund II (Avigo II), a $125 million fund in which IFC committed $10 million (   Project No. 25638   ). The Fund will be managed by Avigo Capital Manager (the Manager), who has managed predecessor funds, Avigo SME Fund I & II. Supporting Small and Medium Enterprises.  Strengthening SMEs is an integral part of IFCs strategic priorities.  By supporting the Fund IFC will increase access to finance to SMEs in India.   Sustainability through value addition.  The Manager has a track record of actively hand holding its portfolio companies in Avigo II, demonstrated by revenue and net profit growth of 52% and 88% respectively in FY2007.  The Manager will retain this value adding investment philosophy in Avigo III, leading to more sustainable SMEs.  Impact in Tier II and Tier III cities.  The project will deepen IFCs footprint in IDA countries by investing primarily in India, and in SMEs through focusing on smaller (Tier II and Tier III) cities, where the majority of the populace resides.  The existing funds have invested in companies which have an impact across India, including in lagging states.  For example Tecpro Systems has a factory in Rajasthan, GET Power has projects in Meghalaya and Orissa, and Bharat Box has factories in Jammu & Kashmir. This rationale is consistent with IFCs India equity strategy which is to increase capital flow into overlooked market segments and cities.
Idea Cell Ltd. The Project consists of an equity investment of up to INR 3,893 million (approximately US$65 million) in common shares of Idea Cellular Limited (Idea or the Company), through a Qualified Institutional Placement (QIP) process. The proceeds of the equity investment will be used for meeting business requirements including payment towards spectrum that may be auctioned by DoT in future and for general corporate purpose (the Project). (i) Increased access to affordable and quality telecommunication services, especially in rural areas: The proposed IFC investment will enable the Company to offer improved access to good quality voice and data/internet services to its rural subscribers, which form about 55% of its subscriber base. The Company''s strong rural focus and management capability will enable better access to quality and affordable telecom services in these underserved markets of India. IFC''s investment in Idea will support the Company''s expansion in rural areas.   (ii) Raising additional revenue for the GOI and fostering macro-economic development: Continued investment in this sector is expected to have a broad based positive impact on the economy. Idea is expected to make significant direct contributions to the GOI through spectrum payments and taxes. Importantly in a country like India, the telecom sector is known to have a significant multiplier effect on the rest of the economy. The WBG estimates that for every 10% rise in broadband penetration, approximately 1-2% is added to a nation''s GDP.
SEABRIGHT IV, LP The proposed Project is for an equity investment of up to US$15 million into Seabright IV, L.P (the Fund, operating as Prime Venture Partners) and a co-investment envelope of up to US$15 million to invest alongside the Fund. The Fund will focus primarily on seed to series A stage investments in Indian technology-enabled companies. The Fund plans to invest in companies across healthcare, education, financial services, logistics, consumer internet and enterprise technology sectors. Counter-cycling to COVID Market Disruption: The project will help to position the industry to "buildback- better" post COVID-19, and will contribute to restoring the confidence and enthusiasm of the
investors disrupted by the pandemic.

Investment impact: The proposed Project will help in increasing the access to seed to Series A stage equity for startups.
Moser Baer PV Moser Baer Photo Voltaic Limited (MBPV), a recently incorporated entity, is setting up an export oriented solar photovoltaic (PV) cell and module manufacturing facility with an installed capacity of 80 MW. The project will create about 600 additional jobs, a majority of which require technical skills.  Other development impacts include:   - promoting electrification in off-grid applications; and - facilitating reduction of emission of greenhouse gases (GHG).    In Moser Baers target markets, renewable generating capacity of 80 MW (the generating capacity of one years output from the project) will avoid GHG emissions in the order of 65,000 tons of carbon dioxide per annum.