IFC to invest $20 million in FCEL.

Future Consumer Enterprise Ltd (FCEL) has informed the stock exchanges that International Finance Corporation (IFC) will invest $20 million in the company through equity-linked instruments. It will use the funds to support growth plans and strengthen its balance-sheet. The company had also recently raised $55 million from US-based Proterra Partners (previously known as Black River Asset Management) and the promoters of the company and this completes the current fund raising plan of $75 million. Other investors in FCEL include Brussels-based Verlinvest and Singapore-based Arisaig Partners.

HBL