IndusInd Bank raises $225 mn loan from OPIC

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IndusInd Bank has inked a finance agreement with the Overseas Private Investment Corporation (OPIC) for a USD 225 million loan to support the expansion of the bank’s micro, small and medium enterprise (MSME) lending programs across India.

At least 25% of the proposed facility will support women entrepreneurs and reach previously unbanked populations. The eight-year loan is part of the agency’s commitment to supporting $1 billion in loan to underserved small and medium enterprise in India.

MSMEs are an important segment of the Indian economy but are often constrained by a lack of access to capital. This loan will support IndusInd Bank in increasing it MSME lending.

Well Fargo Bank also signed a $20 million finance agreement at the event supporting IndusInd Bank’s MSME lending, which commits at least 25% funds to women entrepreneurs.

Stock view:

IndusInd Bank Ltd is currently trading at Rs 1522.7, down by Rs 1.1 or 0.07% from its previous closing of Rs 1523.8 on the BSE.

The scrip opened at Rs 1516 and has touched a high and low of Rs 1537.4 and Rs 1516 respectively. So far 112226(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 91180.16 crore.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 1534.45 on 08-Jun-2017 and a 52 week low of Rs 1037.85 on 24-Nov-2016. Last one week high and low of the scrip stood at Rs 1534.45 and Rs 1486.4 respectively.

The promoters holding in the company stood at 14.98 % while Institutions and Non-Institutions held 55.65 % and 18.56 % respectively.

The stock is currently trading above its 50 DMA.

IndusInd Bank Ltd
BSE 1,525.15 1.35 (0.09%)
NSE 1,525.90 1.80 (0.12%)

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