IDFC mops up Rs 533 cr from tax-saving infra bonds

Infrastructure Development Finance Company (IDFC) today said it had raised Rs 532.6 crore through an issue tax-saving infrastructure bonds.

The bonds have been alloted against 2.6 lakh applications, IDFC informed the BSE.

The first tranche opened for subscription on November 21 and closed on December 16. The company has plans to raise Rs 5,000 crore from the infra bonds issue this fiscal.

The five-year bonds carry a coupon rate of 9%.

Amount raised through the first tranche this fiscal is 14% higher than its equivalent in FY11, the company had said in a statement.

The NBFC firm had mopped up Rs 1,451 crore from over 7.3 lakh retail investors through the issue of long-term infrastructure bonds in FY11.

Source: Business Standard