IDFC raises Rs 538 cr via infra bonds

Infrastructure Development Finance Company Ltd has raised a total of Rs 538.08 crore from approximately 2.7 lakh investors through the first tranche of its “Long Term Infrastructure Bonds”.

The company is looking to raise a total of Rs 5,000 crore by March 2012 through the infrastructure bonds, said a press release issued by the company.

The issue was open for subscription from November 21 to December 16. The face value of the bond is Rs 5,000. Investment up to Rs 20,000 is eligible for tax exemption under Section 80CCF.