25 September 2025: Societe Generale today announced the launch of a new branch in Gujarat International Finance Tec-City (GIFT City), the first International Financial Services Centre (IFSC) in India, reinforcing its commitment to the Indian market.

The branch will be led by Mihir Baxi, Head of IFSC Banking Unit, Societe Generale GIFT City, in addition to his existing role as Director, Corporate Coverage, Societe Generale India. With more than 20 years in banking, Mr. Baxi brings extensive experience managing strategic relationships and transactions with both Indian and multinational clients, and a deep understanding of the Indian market. He will report to Dr. Katan Hirachand, Chief Executive and Chief Country Officer, Societe Generale, India.

Societe Generale has a strong track record of supporting India’s economic development, especially in projects driving the clean energy transition and advancing India’s goal to achieve 500 gigawatts (GW) of renewable energy capacity by 2030. The bank has supported the financing of more than 9GW of renewable power to date in India , and examples of these partnerships include:

·       Working with renewable energy company ReNew (NASDAQ: RNW) on the financing and development of various complex renewables projects.

·       Acted as sole structuring bank on the USD132 million project financing of a 300 megawatt (MW) solar power project in Andhra Pradesh for SAEL Industries Ltd.

·       Supporting Serentica Renewables as one of two lenders on a 300MW solar project in Rajasthan that will supply clean power to Bharat Aluminium Company Ltd.