India Infrastructure Finance Company Ltd (IIFCL) has received the Securities and Exchange Board of India (SEBI) approval for the launch of infrastructure debt fund (IDF) through the mutual fund route.
This was stated today by S.K. Goel, IIFCL Chairman and Managing Director, at an event in the Capital.
SEBI had earlier given only an in-principle approval for IIFCL to launch its IDF through the mutual fund route.
The final approval has now come and a communication to this effect was received by IIFCL on Tuesday evening, said a company official.
IIFCL is looking to launch a near $1-billion IDF and plans to rope in several investors including Asian Development Bank, HSBC and Standard Chartered Bank.
Indications are that the IDF will be formally launched in the next one month.