IIFCL: Float Rs 5,000 Crore Infra Fund by February, 2012

IIFCL (India Infrastructure Finance Company)  plans to float  Rs 5,000 crore IDF (Infrastructure Debt Fund  by the end of February, 2012.
Mr. S.K Goel, CMD, IIFCL
Mr. S.K Goel, CMD, IIFCL said,  “We are coming out with an $100 crore (About Rs. 5,000 Crore) IDF. The proposed IDF is approved by central government and our board of direcetors. Our company is looking for other foreign partner. We have decided to go for mutual fund route which is more flexible. We are planning to launch IDF by the end of February, 2012“.

The proposed IDF would have 5 sponsors, with IIFCL being the lead player with 26%. IDBI Bank and LIC will have 14% and 10% stake, respectively. Foreign partner ADB (Asian Development Bank) and HSBC is expected to have 25% each as talks are in progress.

India's poor infrastructure, which is seen as a major bottleneck for economic growth, requires a minimum investment of  $1 trillion (Trillion = l lakh) in the 12th Plan ( 2012-2017).

About IIFCL..!
India Infrastructure Finance Company Limited (IIFCL) was incorporated on January 5, 2006 under the Companies Act 1956 as a wholly Government owned Company. It is a dedicated institution purported to assume an apex  role for financing and development of infrastructure projects in India. The authorized capital of the Company is Rs. 2,000 crore of which, paid up capital, Now is Rs. 2,000 crore. Besides, the resource-raising programme of the Company would have sovereign support, wherever required

The IIFCL renders financial assistance through:

    1. Direct lending to eligible projects
    2. Refinance to banks and FIs for loans with tenor of five years or more
    3. Any other method approved by Government of India

India Infrastructure Finance Company Limited (IIFCL)8th Floor, Hindustan Times Building
18 & 20, Kasturba Gandhi Marg
New Delhi-110 001
Fax : 91-11-23766256,23730251
Phone: 91-11- 23708263,23708264

India Infrastructure Finance Company (UK) Ltd.87, Gresham Street
London EC2V 7NQ
United Kingdom
Fax : +44(0)2077768958Tel : +44(0)2077768950, +44(0)2076006564
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