Piramal Finance seeks $1 billion in foreign currency loans
Updated
Updated · Bloomberg · May 8
Piramal Finance seeks $1 billion in foreign currency loans
7 articles · Updated · Bloomberg · May 8
Mumbai-based lender, backed by billionaire Ajay Piramal, plans to borrow this year from foreign banks and multilateral agencies, CEO Jairam Sridharan said.
The offshore debt is intended to fund strong demand for retail credit in India, with proposed loan maturities of three to five years.
The move highlights how Indian shadow lenders are tapping overseas funding as credit demand rises in the world’s fastest-growing major economy.
Will Piramal’s foreign loan spree uplift India's businesses or expose the economy to new global financial shocks?
With its controversial DHFL past, can Piramal's AI-driven strategy truly safeguard its billion-dollar offshore bet?