Indian shadow bank Shriram Finance gets record $1.28 billion loan

21 Dec 2024 CW Team

Shriram Finance Ltd. is reported to have borrowed $1.28 billion in a multi-currency social loan, marking the largest offshore facility ever undertaken by an Indian shadow lender. According to a press release issued by Shriram, the deal is divided across the dollar, euro, and dirham. Sources familiar with the transaction, who wished to remain anonymous, indicated that the tenors in the multi-tranche deal range from three to five years. This loan adds to the surge of offshore debt sales by Indian shadow lenders this year, a trend prompted by the Reserve Bank of India's tightening of rules in November 2023. These regulations made it more challenging for the sector to obtain local currency bank loans. Markets, however, have absorbed the new debt supply, attracted by comparatively higher yields and the opportunity to diversify portfolios away from high-yielding Chinese debt. Indian shadow banks, which play a crucial role in the country’s fast-growing economy, provide capital to individuals and businesses unable to access traditional sources of funding. These lenders are involved in a variety of sectors, including infrastructure and small businesses owned by low-income borrowers. Recently, several Indian shadow banks, such as Annapurna Finance Pvt and Credila Financial Services Ltd., have tapped the offshore loan market, with many being first-time borrowers. Shriram itself had already issued a $468.4 million loan and two dollar bonds totaling $1.25 billion earlier in the year. Shriram’s latest loan consists of a $1.2 billion dollar tranche, a $75 million dirham tranche, and a $52 million euro tranche. The loan also includes a $250 million portion from the International Finance Corporation (IFC), with the remaining funds coming from banks, some of which would be syndicated. Among the banks involved in the deal are BNP Paribas SA, CTBC Bank Co., DBS Group Holdings Ltd., Deutsche Bank AG, Emirates NBD Bank PJSC, First Abu Dhabi Bank PJSC, HSBC Holdings Plc, IFC, Kotak Mahindra Bank Ltd., Mitsubishi UFJ Financial Group Inc., SMBC Nikko Securities Inc., and Standard Chartered Plc. Bloomberg-compiled data reveals that Shriram’s loan surpasses the $1.2 billion deal made by state-owned India Infrastructure Finance Co. in 2009.

Infrastructure Urban

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..