India Infrastructure Finance Company Ltd (IIFCL), a government company, has raised ₹1,500 crore through private placement of non-convertible debt securities.
The 10-year bond has a coupon of 7.17 per cent and the total mop-up of ₹1,500 crore includes a green shoe option of ₹1,000 crore. After a span of eight years, IIFCL has raised funds from the domestic market.
This fund raising is expected to provide impetus to government’s vision of achieving outstanding Infrastructure growth, as they will be utilised to provide longer term debt to Infrastructure Projects, both Greenfield and Brownfield, developed under various initiatives of Government of India viz., NIP, NMP and Gati-Shakti.