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The group will use the funds for its financial services business, IL&FS Financial Services managing director Ramesh C Bawa said. The three-five year loan is priced at around 10 percent, he added.
The IL&FS Group today said that it has raised USD 55 million in masala loans (rupee loans) from the UAE-based Mashreq Bank.
The group will use the funds for its financial services business, IL&FS Financial Services managing director Ramesh C Bawa said. The three-five year loan is priced at around 10 percent, he added.
Mashreq Bank is also looking to collaborate with the IL&FS Group across various business segments including renewable energy, surface transport, GIFT city and education.
Source : PTI
