SK Goel, Chairman and Managing Director of India Infrastructure Finance Company (IIFCL) said that the firm got Securities and Exchange Board of India's (Sebi) nod to launch $1 billion infrastructure debt fund (IDF). IIFCL expects to operationalise the fund in a month. Of the $1 billion corpus, 50 per cent would be contributed by Indian investors and 50 per cent by foreign investors, he said at the launch of first credit enhanced infrastructure bonds.
IIFCL would launch the IDF via mutual fund route which is more flexible, Goel said. The financial institution has held discussion with Indian investors like LIC, IDBI Bank for this purpose. He said Asian Development Bank (ADB) was processing about $200 million request which made by IIFCL for the fund. IIFCL plans to use the fund generated by the IDF for funding infrastructure projects in the country.
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