New Delhi, March 13 DCM Shriram Ltd announced on Friday that it will receive $90 million from the International Finance Corporation, the private sector arm of the World Bank Group, through sustainability-linked non-convertible debentures.
The proceeds will fund the expansion of DCM Shriram's downstream chemicals business and capital expenditure for its agricultural operations, according to the New Delhi-based conglomerate, which said it has extensive engagement with farmers at the grassroots level.
"This transaction represents a significant milestone in our journey towards delivering responsible growth and sustainable value creation," said Amit Agarwal, Group CFO and Executive Director at DCM Shriram, adding that IFC has been a strategic partner for over two decades.
IFC Regional Division Director for South Asia, Imad N. Fakhoury, said the investment aligns with the World Bank Group's recently announced Country Partnership Framework for India and will support the government's Make in India and Atmanirbhar Bharat initiatives.
DCM Shriram operates in the chemicals, agricultural products, and building materials sectors. The sustainability-linked structure ties financing terms to independently reviewed environmental and operational improvement targets.