US International DFC commits $50 ml loan to Motilal Oswal Home Finance Ltd

U.S. International Development Finance Corporation (DFC) has committed USD 50 Million long term loan (For 15 years) to material subsidiary of the Company i.e. Motilal Oswal Home Finance Limited (MOHFL) via External Commercial Borrowing (ECB) route, out of which MOHFL has now received 1st tranche of USD 10 Million from DFC.

U.S. DFC is America's development finance institution (DFI), part of the U.S. Government, and provides debt financing, equity investments, feasibility studies, investment funds, political risk insurance and technical assistance. DFC is partnering with MOHFL to finance solutions for borrowers under affordable housing. This commitment will be utilised by MOHFL towards financing long-term funding for low-income mortgages throughout India, advancing financial inclusion and economic stability in the country.

DFC investments adhere to high standards and respect the environment, human rights, and worker rights.

After extensive due diligence and validating the MOHFL's belief in sustainable development, DFC has committed this funding under its 2X Women's Initiative, as the funding will be utilized to support women borrowers in owning their first "Pucca House", advancing gender equity in India. DFC invests in projects throughout the developing world that increase access to finance for underserved populations including women, small businesses and rural communities.

Shares of Motilal Oswal Financial Services Limited was last trading in BSE at Rs. 900.20 as compared to the previous close of Rs. 894.55. The total number of shares traded during the day was 7069 in over 742 trades.

The stock hit an intraday high of Rs. 913.10 and intraday low of 895.00. The net turnover during the day was Rs. 6382553.00.

Source : Equity Bulls

Keywords

MotilalOswalFinancialServices INE338I01027 USInternationalDFC LongTermLoan ECB