18 December 2023
Axis Bank in partnership with GuarantCo, a part of the Private Infrastructure Development Group (PIDG), has extended an INR 2.5 billion ($30 million) three-year loan to Vivriti Capital to expand its portfolio by lending to companies operating in the eMobility ecosystem in India. GuarantCo has provided a 50% on-demand credit guarantee to Axis Bank for this transaction.
This guarantee is provided under the $200 million (INR equivalent) framework guarantee agreement, which is signed by Axis Bank and GuarantCo to allow the mobilisation of funds between $300 and $400 million (INR equivalent) to finance the e-mobility ecosystem in India. Axis Bank has closed this transaction under the framework agreement with GuarantCo which was announced under an MoU during COP26 in Glasgow in November 2021.
Axis Bank in partnership with GuarantCo, a part of the Private Infrastructure Development Group (PIDG), has extended an INR 2.5 billion ($30 million) three-year loan to Vivriti Capital to expand its portfolio by lending to companies operating in the eMobility ecosystem in India. GuarantCo has provided a 50% on-demand credit guarantee to Axis Bank for this transaction.
This guarantee is provided under the $200 million (INR equivalent) framework guarantee agreement, which is signed by Axis Bank and GuarantCo to allow the mobilisation of funds between $300 and $400 million (INR equivalent) to finance the e-mobility ecosystem in India. Axis Bank has closed this transaction under the framework agreement with GuarantCo which was announced under an MoU during COP26 in Glasgow in November 2021.
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