About Us

RnD IOC Global Capital Management IFSC Limited (IGCMIL), is a wholly owned subsidiary of IndianOil and the first finance company established at India’s premier financial hub — GIFT City IFSC, Gujarat — by any commercial non-financial corporation in India. Incorporated in May 2023, IGCMIL is registered with the International Financial Services Centres Authority (IFSCA) to operate as a Global / Regional Corporate Treasury Centre (GRCTC) for IndianOil and its group companies. By leveraging the fiscal incentives, regulatory flexibility, business synergies, and world-class ecosystem offered by India’s International Financial Services Centre, IGCMIL provides a comprehensive suite of treasury and financial services to support the IndianOil Group’s global funding, liquidity management, and investment activities.

Within its first year of operation, IGCMIL has achieved a landmark feat by executing financial transactions worth over USD 500 million with its group entities. The unit has delivered a broad suite of financial services—including loan refinancing, extending fresh loans, import financing, short-term credit lines, pooling surplus funds and currency hedging via swap mechanisms—marking its evolution into a fully-fledged Global Treasury Centre. This achievement underscores IndianOil’s broader strategy to streamline global financial operations and optimise borrowing costs for the Group as a whole.

Aligned with the vision of “Onshoring Offshore Foreign Assets,” IGCMIL also acts as a strategic holding company for IndianOil’s global ventures, leveraging its offshore jurisdiction within GIFT City. In a landmark transaction, it facilitated a $78.3 million equity investment in Sun Mobility Pte Ltd, a Singapore-based new energy firm. IGCMIL aims to evolve into the preferred platform for all future overseas investments by IndianOil.

As IndianOil’s dedicated financial arm at GIFT City, IGCMIL remains committed to operational excellence, strong governance, and delivering sustainable value across the group’s domestic and international financial market operations.

Our Core Functions

Being a Global Treasury Centre for group entities of IndianOil, we provide following services:

Providing Loans & Refinancing Solutions: IGCMIL extends both short-term and long-term loans to group entities to meet diverse funding needs. We provide short-term Lines of Credit facility, Buyers’ Credit for import financing, long term loans for capex requirement and other types of loans for working capital and liquidity management. Additionally, IGCMIL offers refinancing of existing loans, helping group companies optimise borrowing costs, restructure liabilities, and enhance financial efficiency. These facilities are available in INR or freely convertible foreign currencies.
Pooling Surplus Funds in the form of Inter-Company Deposits: IGCMIL accepts deposits in freely convertible foreign currencies from IndianOil group entities in the form of inter-company loans. Group entities with surplus foreign currency funds can place these as term deposits with IGCMIL, earning attractive returns compared to conventional bank term deposits.
Raising funds from Banks / Financial Institutions & Capital Market: IGCMIL take advantage of fiscal incentives and regulatory flexibility offered by GIFT City to mobilise funds in various currencies at competitive rates from global banks, financial institutions, and capital markets.
Foreign Exchange & Other Risk Management: IGCMIL has robust risk management and compliance frameworks in place for designing effective hedging strategies for foreign exchange, interest rate and commodity risks. It can also manage multi-currency exposures.
Outbound Investment & Holding Platform: IGCMIL also acts as a strategic holding company for IndianOil’s global ventures, leveraging its offshore jurisdiction within GIFT City. It can also facilitate strategic global partnership and equity investments.

Future Plan

Looking ahead, we are scaling up our Global Treasury Operations by providing various types of treasury and financial services to IndianOil and its group companies. We are also preparing to broaden our portfolio by entering into ship leasing, commodity trading and captive insurance activities— key verticals that align with our long-term strategy to become a full-spectrum offshore financial services provider within the GIFT IFSC ecosystem.

We are committed to delivering innovative, compliant, and high-impact financial services to group companies worldwide—fostering financial resilience, operational efficiency, and sustainable value creation.

Vision

Our vision is to cover and provide services to all the group entities under Global Treasury Centre within the innovative framework of IFSCA at GIFT IFSC. We aim to optimise borrowing costs at the group level and enable efficient treasury management. A key focus is to support ESG-focused fund raising and promote sustainable financial practices across group entities.

Mission

To deliver low-cost credit, liquidity, and trade finance solutions to group entities under the GRCTC framework.
To facilitate efficient capital deployment through surplus fund pooling.
To support global trade through hedging, foreign exchange, and structured risk management tools.
To expand into strategic verticals such as ship leasing, commodity trading and captive insurance.
To uphold the highest standards of regulatory compliance, transparency, and financial innovation in alignment with IFSCA guidelines.

Management Team

Details of Board of Directors

Anuj Jain, Director (Finance) -IndianOil

Shri Anuj Jain

Non-Executive Chairman

Shri Anuj Jain is a Chartered Accountant & has also completed Masters in Business Finance from ICAI.

Shri Anuj Jain is holding position of Director (Finance) in IndianOil and has over 29 years of rich and varied experience in the field of Finance, Taxation and Commercial aspects across major divisions of IOCL.

Shri Nitin Kumar

Non-Executive Director

Shri Nitin Kumar has joined the Board of IGCMIL w.e.f. 22nd August 2025. He is a Chartered Accountant and holds Executive Masters from the Indian Institute of Foreign Trade (IIFT).

He joined IOCL in 1996 and has rich experience in finance, corporate planning, treasury, strategy, and domestic & international fund-raising. Currently, he is in-charge of Corporate Finance and Treasury in IOCL.

Shri Pramod Jain

Non-Executive Director

Shri Pramod Jain is a Chartered Accountant & a Cost Accountant. He is currently holding position of Chief General Manager (Treasury) at IOCL Corporate Office and has a vast and rich experience of 27 years in the field of Finance, Treasury, Taxation, Internal Audit and Commercial aspects of the Oil & Gas industry.

Key Managerial Personnel

Rajesh Priyadarshi

CEO

+91 9825016296 | ceo@igcmil.com

Sudesh Shetye

Company Secretary

+91 9819411730 | cs@igcmil.com

Sagar Nair

CFO

+91 9537067028 | cfo@igcmil.com

Contact Details

Field Vigilance Officer

Sh. Sunil Kaleshwari, CGM (Vigilance)

Indian Oil Corporation Limited, Western Region Office
IndianOil Bhavan Plot No. C-33, ‘G’ Block
Bandra Kurla Complex, Bandra (E), Mumbai - 400 051, Maharashtra

+91 7045951143 | kaleshwarisg@indianoil.in

IOC Global Capital Management IFSC Ltd

101A, Brigade IFC, Floor 1, Building 14A, Block 14, Zone 1, GIFT SEZ, Gandhinagar 382050, GUJARAT

Annual Report

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IndianOil may change or discontinue any aspect of its website at any time, including, its content or features. IndianOil reserves the right to change the terms and conditions applicable to use of the Site. Such changes shall be effective immediately upon notice, which shall be placed on the Site.
In no event will IndianOil be liable for damages of any kind, including without limitation, direct, incidental or consequential damages (including, but not limited to, damages for lost profits, business interruption and loss of programs or information) arising out of the use of or inability to use IndianOil's website, or any information provided on the website, or in the Products any claim attributable to errors, omissions or other inaccuracies in the Product or interpretations thereof. Some jurisdictions do not allow the limitation or exclusion of liability. Accordingly, some of the above limitations may not apply to the User.
User agrees to indemnify, defend and hold IndianOil harmless from and against all losses, expenses, damages and costs, including reasonable attorneys' fees, arising out of or relating to any misuse by the User of the content and services provided on the Site.
The information contained in the Site has been obtained from sources believed to be reliable. IndianOil disclaims all warranties as to the accuracy, completeness or adequacy of such information.
IndianOil makes no warranty that: (a) the Site will meet your requirements; (b) the Site will be available on an uninterrupted, timely, secure, or error-free basis; (c) the results that may be obtained from the use of the Site or any services offered through the Site will be accurate or reliable.
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The Site provides links to web sites and access to content, products and services from third parties, including users, advertisers, affiliates and sponsors of the Site. You agree that IndianOil is not responsible for the availability of, and content provided on, third party web sites. The User is requested to peruse the policies posted by other web sites regarding privacy and other topics before use. IndianOil is not responsible for third party content accessible through the Site, including opinions, advice, statements and advertisements, and User shall bear all risks associated with the use of such content. IndianOil is not responsible for any loss or damage of any sort User may incur from dealing with any third party.

The term User shall refer to the user who is browsing the site. The term IndianOil shall refer to Indian Oil Corporation Limited. The term Site refers to www.iocl.com owned and monitored by IndianOil.
By using the Site, you agree to follow and be bound by the following terms and conditions concerning your use of the Site. IndianOil may revise the Terms of Use at any time without notice to you. Areas of the Site may have different terms of use posted. If there is a conflict between the Terms of Use and terms of use posted for a specific area of the Site, the latter shall have precedence with respect to your use of that area of the Site.
IndianOil may terminate User's access at any time for any reason. The provisions regarding to disclaimer of warranty, accuracy of information, and indemnification shall survive such termination. IndianOil may monitor access to the Site.
All content present on this site is the exclusive property of IndianOil. The software, text, images, graphics, video and audio used on this site belong to IndianOil. No material from this site may be copied, modified, reproduced, republished, uploaded, transmitted, posted or distributed in any form without prior written permission from IndianOil. All rights not expressly granted herein are reserved. Unauthorized use of the materials appearing on this site may violate copyright, trademark and other applicable laws, and could result in criminal or civil penalties. IndianOil is a registered trademark of Indian Oil Corporation Ltd. This trademark may not be used in any manner without prior written consent from IndianOil.
IndianOil does not make any warranties, express or implied, including, without limitation, those of merchantability and fitness for a particular purpose, with respect to any information, data, statements or products made available on the Site.
The Site, and all content, materials, information, software, products and services provided on the Site, are provided on an "as is" and "as available" basis. IndianOil expressly disclaims all warranties of any kind, whether express or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose and non-infringement.
IndianOil shall have no responsibility for any damage to User's computer system or loss of data that results from the download of any content, materials, information from the Site.
IndianOil may change or discontinue any aspect of its website at any time, including, its content or features. IndianOil reserves the right to change the terms and conditions applicable to use of the Site. Such changes shall be effective immediately upon notice, which shall be placed on the Site.
In no event will IndianOil be liable for damages of any kind, including without limitation, direct, incidental or consequential damages (including, but not limited to, damages for lost profits, business interruption and loss of programs or information) arising out of the use of or inability to use IndianOil's website, or any information provided on the website, or in the Products any claim attributable to errors, omissions or other inaccuracies in the Product or interpretations thereof. Some jurisdictions do not allow the limitation or exclusion of liability. Accordingly, some of the above limitations may not apply to the User.
User agrees to indemnify, defend and hold IndianOil harmless from and against all losses, expenses, damages and costs, including reasonable attorneys' fees, arising out of or relating to any misuse by the User of the content and services provided on the Site.
The information contained in the Site has been obtained from sources believed to be reliable. IndianOil disclaims all warranties as to the accuracy, completeness or adequacy of such information.
IndianOil makes no warranty that: (a) the Site will meet your requirements; (b) the Site will be available on an uninterrupted, timely, secure, or error-free basis; (c) the results that may be obtained from the use of the Site or any services offered through the Site will be accurate or reliable.
The User's right to privacy is of paramount importance to IndianOil. Any information provided by the User will not be shared with any third party. IndianOil reserves the right to use the information to provide the User a more personalized online experience.
The Site provides links to web sites and access to content, products and services from third parties, including users, advertisers, affiliates and sponsors of the Site. You agree that IndianOil is not responsible for the availability of, and content provided on, third party web sites. The User is requested to peruse the policies posted by other web sites regarding privacy and other topics before use. IndianOil is not responsible for third party content accessible through the Site, including opinions, advice, statements and advertisements, and User shall bear all risks associated with the use of such content. IndianOil is not responsible for any loss or damage of any sort User may incur from dealing with any third party.