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Bajaj Finance looks to raise $150 million from International Finance Corporation

Bajaj Finance, India's leading consumer and enterprise financing company, is looking to raise $150 million (approximately or Rs 1000 crore) from International Finance Corporation. 

In a disclosure, IFC said it would subscribe to Bajaj Finance's non convertible debentures for on-lending to micro small and medium enterprise. IFC may also invest up to $100 million in Fullerton India Credit Company and another $50 million in Capital First. 

These proposals are part of IFC's strategic target to finance 10 million MSMEs during FY17-21. 

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