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Friday, November 9, 2012

IIFCL’s Rs 10,000-cr tax-free bond issue to open on Monday

India Infrastructure Finance Company Ltd (IIFCL) will launch its Rs 10,000-crore tax-free bond issue on Monday, S.K. Goel, Chairman & Managing Director, said.

The company would first do a private placement of these bonds for Rs 2,500 crore with institutional investors.

After the institutional portion is completed, the retail one of Rs 7,500 crore will be done in tranches.

The entire issue will be completed before March-end this fiscal, Goel said on the sidelines of the India Infrastructure Investment Forum meet here.

The Centre had allowed IIFCL to issue tax-free bonds worth Rs 10,000 crore in 2012-13.

Earlier, Goel told the Forum that IIFCL expected to get SEBI’s nod soon for launching a $1-billion infrastructure debt fund (IDF) through the mutual fund route.

DEA Secretary Arvind Mayaram had on Thursday taken up the matter with SEBI Chairman U.K. Sinha to sort out regulatory issues of IDFs, Goel said.

IIFCL is looking to launch the IDF sometime in December this year. The company will partner with LIC, IDBI Bank, HSBC and also most likely Standard Chartered Bank for the proposed IDF, Goel said.


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