The loans that SHL is going to obtain from IFC is in US$. I personally feel this cause a huge risk. When they repay the loan, a rupee would have depreciated to Rs170/= to a US$.
It's up to you to decide whether you want to invest in SHL which has huge debt and low earnings. Day-by-day their debts are increasing. There are plenty of attractive companies with less debt and attractive earnings in CSE.