International BusinessIIFCL to raise Rs 5,000 cr from taxable bonds in FY10
State-owned infrastructure finance company India Infrastructure Finance Company (IIFCL) today said it is planning to raise up to Rs 5,000 crore to fund various projects.
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"We aim to raise Rs 5,000 crore through taxable bonds from domestic market," IIFCL Chairman and Managing Director S S Kohli told PTI.
This is over and above Rs 30,000 crore, which the government allowed the IIFCL to raise from the domestic market as tax free bonds to enable refinancing various projects in the core sector, particularly highways and port.
The company, Kohli said, has already raised Rs 2,000 crore from the market during the current fiscal.
The funds would be raised for financing infrastructure sector projects across the sectors, he said, adding "we are talking to different companies and are waiting for financial closures".
The company, which was incorporated by the government in 2006 to fund infrastructure sector projects, has disbursed Rs 4,800 crore for 77 projects till March 2009.
During the fiscal, Kohli said, "We have disbursed Rs 3,200 crore, as compared to Rs 1,541 crore in the previous fiscal."