JK Tyre raises $100-M from IFC

JK Tyre & Industries has raised a USD 100 million sustainability-linked loan from the International Finance Corporation (IFC). The funding includes USD 30 million for JK Tyre and USD 70 million for Cavendish Industries Ltd (CIL), its subsidiary.The funding will support the company's expansion of passenger car radial (PCR) tyre capacity at its Banmore plant in Madhya Pradesh and for expanding truck and bus radial (TBR) production capacity at CIL's Laksar plant in Uttarakhand.