The funds thus raised would provide impetus to various ambitious plans of the Government of India towards development of infrastructure sector in India.
New Delhi, March 12, 2024
IIFCL received overwhelming response to its fund raising programme through bonds/debentures with subscription of Rs 3,494.50 crore which is nearly 7x of the base issue size of Rs 500 crore. The company finally decided to retain both, the base issue of Rs 500 crore and green shoe option of Rs 1,000 crore at a coupon of 7.34% per annum for 15-year maturity paper. To focus on lending at an affordable price, IIFCL plans to raise funds from the market through various channels including wholesale debt market. This is the fifth such issuance in the current financial year, which has mustered response of approximately 7x, the base issue size. The funds thus raised would provide impetus to various ambitious plans of the Government of India towards development of infrastructure sector in India.
IIFCL is a government-owned financial institution that caters to the long-term financing needs of India’s infrastructure sector. It is amongst the most diversified public sector infrastructure lenders in terms of eligible infrastructure sub-sectors. IIFCL is also active in providing inputs and policy support in infrastructure financing space to the Government through various forums, with an aim to promote and develop world-class infrastructure in India.