International Finance Corporation (IFC), the private sector investment arm of the World Bank, may put in up to Rs 450 crore ($73.6 million) in Mumbai-based Fullerton India Credit Company Ltd (FICCL), a financial services firm owned by Singapore’s sovereign wealth fund Temasek, it said on Tuesday.
IFC seeks to invest through subscription of secured non-convertible debentures (NCD) that would be rated, listed and tradable on the Bombay Stock Exchange. FICCL is a wholly owned subsidiary of Fullerton Financial Holdings Pte. Ltd., which in turn is a wholly owned subsidiary of Temasek Holdings Pte. Ltd., Singapore...............................................Full Article: Source
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