19.06.2015 - GIC likely invest more into Bandhan
International Finance Corporation (IFC) and the Singapore government-backed GIC are likely to raise their investments in Bandhan after it got the final banking licence by the Reserve Bank of India. The global investors may pump in fresh Rs 500 crore equity, making it their second round of stake buy in the company this fiscal. IFC, GIC and state-run Small Industries Development Bank of India invested Rs 1,020 crore in the Kolkatabased small lender in May. Bandhan had receivedRs 640.87 crore from GIC in May, while IFC has put in Rs 344 crore. Sidbi has investedRs 35 crore in the Kolkata-based lender, which is India's first microfinance company to transform into a bank..............................................Full Article: Source
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