Business Standard 24 April 2013
(Chennai) The proposed fund-raising, through ECB route will help the firms expand their base
International Finance Corporation has decided to, in stages, invest around $10 million (Rs 54 crore) in each of two micro finance companies, Chennai-based Equitas and Bangalore-based and Sequoia Capital-backed Ujjivan Financial. The route would be external commercial borrowing (ECB) and the money would help the companies expand their bases
IFC’s investment in a portfolio micro-finance institution is expected to build confidence in the sector, in the wake of the
Andhra Pradesh crisis, and give confidence to other investors, network partners and stakeholders.
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