IFC invests $100-M in gold loans firm Manappuram

IFC proposes to provide a senior secured loan of up to USD 100 million through subscription to non-convertible debentures (NCDs) of Manappuram Finance Ltd (MFL) with a tenor of 3 years. Thrissur (Kerala) based, publicly listed MFL primarily offers gold loans and has 5,000 branches across 29 states in India.