IIFCL MF launches infrastructure debt fund

India Infoline News Service | Mumbai |

IIFCL is targeting an initial corpus of $1 billion

IIFCL Mutual Fund launched its maiden infrastructure debt fund (IDF) scheme today with the support of investors viz. Canara Bank and HUDCO being the strategic investors and Corporation Bank, Oriental Bank of Commerce & IIFCL being the other investors.

The maiden IDF scheme will mainly undertake investment in debt securities or securitised debt instruments of infrastructure companies, infrastructure capital companies or infrastructure projects, SPV, bank loans etc with the investment objective of capital appreciation and trade on the stock exchange, aimed at development of bond market in the country.

IIFCL is targeting an initial corpus of $1 billion by attracting both domestic and international investors.

The regulations for infrastructure debt fund, through mutual fund and NBFC route, were issued by the financial regulators, SEBI and RBI, following the announcement made by Government of India in financial year 2011-12.
 

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