Axis Bank extends loan to Vivriti Capital to boost eMobility in India

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.