CDC Group invests $57m in India's Cholamandalam Finance

Photo: Reuters

CDC Group Plc, the UK government’s development finance institution, has invested $57 million (Rs 400 crore) in India’s Cholamandalam Investment and Finance Company Ltd (CIFCL) through 10-year masala bonds.

This is CIFCL’s maiden masala bond issue, which may be listed on London Stock Exchange or any other international stock exchanges in the future, it said in a statement.

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