IndianOil’s subsidiary, IOC Global Capital Management IFSC Limited (IGCMIL), marked its inaugural transaction at GIFT City, Gandhinagar, raising a $100 million loan from DBS Bank Singapore.
The funds will refinance IndianOil’s existing External Commercial Borrowing (ECB) loan. This aligns with IFSC Gift City’s vision of attracting foreign capital to India and easing the burden on the Indian Banking Industry.
IndianOil’s Chairman, Mr Shrikant Madhav Vaidya, emphasized IGCMIL’s role in optimizing overseas investments, enhancing the company’s global footprint, and securing energy supply chains. IGCMIL plans to facilitate foreign investments for IndianOil’s expansive capital expenditure, including ventures in ship acquisition, financing, and leasing.
IOC Global Capital Management IFSC Limited carries out first transaction at GIFT City
