New Delhi: DCM Shriram Ltd on Friday said it will receive USD 90 million from International Finance Corporation, the World Bank Group's private sector arm, through sustainability-linked non-convertible debentures.
Proceeds will fund expansion of DCM Shriram's downstream chemicals business and capital expenditure for its agricultural operations, which the New Delhi-based conglomerate said has extensive engagement with farmers at the grassroots level. "This transaction represents a significant milestone in our journey towards delivering responsible growth and sustainable value creation," said Amit Agarwal, Group CFO and Executive Director at DCM Shriram, adding that IFC has been a strategic partner for over two decades.
IFC Regional Division Director for South Asia Imad N. Fakhoury said the investment aligned with the World Bank Group's recently announced Country Partnership Framework for India and would support the government's Make in India and Atmanirbhar Bharat initiatives. DCM Shriram operates across chemicals, agricultural products and building materials. The sustainability-linked structure ties financing terms to independently reviewed environmental and operational improvement targets.
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