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IL&FS Financial to close infra debt fund by Sept

Last month, IL&FS Financial Services had sold 1.22% stake in rating agency CARE for over Rs. 28 crore through an open market route

March 24, 2014 11:20 IST | India Infoline News Service
IL&FS Financial Services is likely to close its infrastructure debt fund by September, according to a media report.
IL&FS Infra Asset Management, which manages the infrastructure debt fund, expects to close $1 billion of its targeted $5 billion infrastructure debt fund by September, the report added.
Till date, the company has raised Rs 750 crore and expects to raise additional Rs 750 crore by March 31.
The company has pooled in funding from public sector insurers, including General Insurance Corporation of India, Oriental Insurance and United India Insurance, which will together pick 2% stake each in the company.
Last month, IL&FS Financial Services had sold 1.22% stake in rating agency CARE for over Rs. 28 crore through an open market route.
IL&FS Financial Services is one of India's leading non-banking financial company providing a wide range of financial and advisory solutions under one umbrella.

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