Fullerton raises Rs 450 crore funding from IFC

NEW DELHI: Non-banking finance company Fullerton India today said it has raised Rs 450 crore from International Finance Corporation (IFC).

"These funds are raised through the subscription of secured non-convertible debentures (NCDs), with an average maturity period of 5 years," Fullerton said in a statement.

These NCD's are rated, listed and tradeable on the National Stock Exchange.

This additional funding will enable the company to cater to the further growth and expansion of the SME and MSME business, the statement said.

"This funding will further aid in expanding our business and diversification of our portfolio to cater to this segment," Fullerton India MD and CEO Shantanu Mitra said.