India Infrastructure Finance Company (IIFCL) has expressed confidence that during the current financial year it would be able to achieve its target of raising Rs 10,000 crore.
The government-owned company has so far raised about Rs 4,200 crore and expects to raise the remaining amount over two tranches, through bond issues of about Rs 2,500 to Rs 3,000 crore each.
IIFCL had raised about Rs 1,200 crore through a bond offer in the first tranche earlier this fiscal and will hit the market with a second tranche in the third week of this month and follow this up with another one early next year.
IIFCL’s UK subsidiary has so far extended loans of over $1 billion and sanctioned about $4 billion of the $5 billion corpus it started with.
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