About Us

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

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

Contact Details

Annual Report