DCM Shriram Raises $90 Million Sustainability-Linked Non-Convertible Debentures with IFC Support
14 March 2026, New Delhi: DCM Shriram Ltd has secured an investment of USD 90 million from International Finance Corporation (IFC) through the subscription of Sustainability-Linked Non-Convertible Debentures (NCDs).
The financing structure follows internationally recognized sustainability frameworks, including the International Capital Market Association Sustainability-Linked Bond Principles (SLBP) and the Loan Market Association Sustainability-Linked Loan Principles (SLLPs). The transaction is based on DCM Shriram’s newly developed Sustainability-Linked Loan (SLL) Framework, which has been independently reviewed through a second-party opinion by CareEdge ESG.
According to the company, the financing will support strategic investments and long-term expansion plans. The funds are expected to strengthen DCM Shriram’s downstream chemicals operations while also supporting capital expenditure in its agri businesses. The company’s agri segment works closely with farmers at the grassroots level, and the investment is expected to contribute to rural job creation and stronger agricultural supply chains.
Leadership Perspectives
Commenting on the development, Amit Agarwal said the transaction marks an important milestone in the company’s sustainability journey.
He noted that IFC has been a strategic partner of DCM Shriram for more than two decades and that the latest investment will help accelerate growth while improving operational efficiency, environmental performance, and long-term resilience across the company’s businesses.
Imad N. Fakhoury said the investment supports India’s manufacturing and employment goals while strengthening value chains connected to agriculture and industry.
He added that IFC’s financing will help expand value-added production and support rural supply chains, aligning with India’s “Make in India” and “Atmanirbhar Bharat” initiatives. The investment also links financing terms to independently reviewed sustainability targets, ensuring that operational improvements are tied to measurable environmental and social outcomes.
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