New Delhi: IIFCL received an overwhelming investor response to its fund raising programme through Bonds/Debentures with subscription of Rs 2,355 crore, which is nearly 12x of the base issue size of Rs 200 crore.
The company finally decided to retain Rs 1,000 crore with base issue of Rs 200 crore and green shoe option of Rs 800 crore at 7.67 per cent for 15-year maturity paper.
With an objective to lend at an affordable price, IIFCL plans to raise funds from the market through various channels, including wholesale debt market.
This is the fourth such issuance of IIFCL in the current financial year.
The funds raised help IIFCL to effectively deploy them in infrastructure sector, thereby supporting the ambitious plans of the Government of India towards development of infrastructure sector in India.