Debt

Debt financing

Piramal Finance raises $350-M from IFC, ADB

Business Line  

Non-banking financial company (NBFC) Piramal Finance Ltd has raised USD 350 million in multilateral financing from the International Finance Corporation (IFC) (USD 200 million) and Asian Development Bank (ADB) (USD 150 million). The facilities have a five-year tenor and will be drawn in tranches between January and March 2026. This marks the firm’s first borrowing from development finance institutions.The company also plans to raise an additional USD 150 million from other development finance institutions, aiming for a total of USD 500 million by the end of the fiscal year.Piramal Finance provides wholesale and retail funding opportunities within real estate and non-real estate sectors . The NBFC claims to serve over 5.2 million customers across more than 13,000 pin codes through 517 branches.The capital raised will be directed towards affordable housing finance, MSME (micro, small and medium enterprises) credit, and lending to women borrowers and entrepreneurs in tier-2 and tier-3 cities.