IIFCL INVESTMENTS
IIFCL has investments in Adani and other infrastructure projects: MD
IIFCL's Managing Director, P R Jaishankar, assured investors that the company's investments in Adani Group projects are secure and isolated within special purpose vehicles. Despite the US Department of Justice's allegations against the Adani Group, Jaishankar emphasized that IIFCL's investments are protected and the company maintains a low NPA level of 0.22%.
RBI's investment in IIFC UK subsidiary fell by a fifth in FY23-24
The central bank is mandated to invest small portion of its foreign exchange reserves- $ 5 billion in the company following demands from the government in the past to fund infrastructure.
IIFCL AMC, 4 others settle mutual fund violation case with Sebi; pay Rs 1 cr
?IIFCL Asset Management Company along with four individuals have settled with Sebi a case pertaining to alleged violation of mutual fund norms after paying Rs 1.02 crore collectively towards settlement charges.
State-run IIFCL seeks infrastructure tag for space sector
State-run infrastructure financing firm IIFCL has proposed that the space sector should be classified as part of the infrastructure sector. IIFCL has disbursed around ?18,000 crore in loans in FY24 and is providing transaction advisory services to India's premier space agency, ISRO. The government has reviewed the extant foreign direct investment (FDI) policy in the space sector and allowed up to 74% FDI under the automatic route in satellite manufacturing and operation, satellite data products, and ground and user segments.
GMR mops up Rs 3,215-crore funds for Vizag International Airport
Among the five lenders, REC has sanctioned the highest amount of Rs 1,245 crore, followed by India Infrastructure Finance Company (IIFCL) (`860 crore) and Exim Bank (Rs 455 crore), the people said. The other two members in the consortium are Central Bank of India which sanctioned Rs 364 crore and Bank of Maharashtra that has agreed to lend Rs 291 crore, the people said.
JP Morgan, Tata Cleantech Capital, others give Rs 2,475 cr funding to GMR¡¯s Goa Airport
GMR is constructing another airport at Bhogapuram, Andhra Pradesh, at a cost of Rs 4,700¨C4,800 crore. Spread over 294 acres, the airport is expected to cater to 24 million passengers. In a corporate presentation earlier this month, the company said financial closure for the project is ¡°in advance stages¡± and that it has ¡°achieved required sanction from all participating financial institutions /banks,¡±. It has also won the bid to ¡°commission, operationalize and maintain¡± a civilian airport at Bidar, Karnataka. It has received the mandate to develop, modernise and operate Nagpur airport.
IIFCL approves loans worth Rs 8,800 cr to boost civil aviation infra
India Infrastructure Finance Company Limited (IIFCL) has approved loans amounting to Rs 8,800 crore for the development of airports and civil aviation infrastructure in India. The IIFCL, which has already sanctioned loans of around Rs 4,000 crore, plays a significant role in financing airport projects in the country. With increasing investments from both the government and private sector, India's airport sector has witnessed massive growth in recent years.
IL&FS moves NCLAT over consent delays for transfer of assets to InvIT
Under the resolution framework, the company management had approved the transfer of four road assets (BKEL, BAEL, JIICL, and JRPICL) to the InvIT of ?5,500 crore, though lenders have been slow in approving the restructuring proposals for these assets.
IIFCL to raise Rs 17,000 cr from bond issuances in FY24
India Infrastructure Finance Company Limited (IIFCL) plans to raise up to Rs17,000 crore through bond issuances in FY24. The state-run company will be raising the fund in tranches of Rs2,000-3,000 crore, said its managing director P R Jaishankar. To meet its target, IIFCL is looking at five to six more tranches of bond issuances during the remainder of the year. As more bond borrowings go up, the share of bank borrowings will go down while IIFCL will be leveraging bond borrowings as part of the company's overall liability management. The company has also set a target of sanctioning infrastructure loans up to Rs50,000 crore in FY24.
IIFCL has sanctioned Rs 8,244 cr loans to develop 20 ports: MD
India Infrastructure Finance Company Ltd (IIFCL) has has been extending its financial support to many strategic port projects, including the Paradip Port, Essar Vizag port, Tuticorin, Krishnapatnam, Karaikal.
IIFCL hopes to bring down NPAs to sub-2.5 pc level by March 2023
He said the net NPA was close to double digits at 9.75 per cent at the end of March 2020, while gross NPAs stood at 19.70 per cent. Aggressive recovery and resolution strategy pursued by IIFCL helped it bring down NPAs significantly in a short span of time, he noted.
IIFCL aims to sanction Rs 30,000 crore for infrastructure projects this fiscal
"From operational loss with high NPAs a few year ago, the company earned a profit of Rs 514 crore in FY'22. Improved both return on equity and return on assets. With the improvement in financials, the net worth has increased from Rs 10,306 crore in FY'20 to Rs 12,273 crore at present," he said.
IIFCL to more than double bond purchases in FY23
The state-backed infrastructure financing company invested about Rs 1,000 crore in bonds and Rs 325 crore in infrastructure investment trusts (InvITs) so far this year for the first time.
IIFCL invests Rs 325 crore in InvIT's long-term debt
Government-owned India Infrastructure Finance Company (IIFCL) on Sunday said it has forayed into the long-term infrastructure bond market by subscribing to a non-convertible debt issued by Virescent Renewable Energy Trust an infrastructure investment trust (InvIT).
IIFCL seeks Reserve Bank nod to lend to InvITS, earmarks Rs 4,000 crore
With regard to InvITs, Managing Director P R Jaishankar said that IIFCL would be more like a financier and it makes more sense to invest at the special purpose vehicle level.
View: Is Development Finance Institution new wine from an old bottle?
For any development finance institution to be viable, two things have to be in place ¡ª funds that would be available for 10-15 years, and projects that earn income for the investing institution. The framework, as announced by Sitharaman on Tuesday, is sketchy for now.
Govt okays Rs 5,300 cr fund infusion into IIFCL in FY20
Another Rs 10,000 crore will be infused in 2020-21.
Govt set to infuse ?1,000 crore equity in IIFCL
The recent churn in the financial sector has seen private players such as ICICI Bank and Axis Bank shun the term loan business, while even public sector players ¡ª including State Bank of India ¡ª are reluctant to lend to infrastructure projects, which not only have a long-gestation but also carry massive implementation risks.
Infra investment will grow 20-25% next year: Subhash Chandra Garg, DEA Secretary
"Fiscal deficit is going down ¨C not rising. We are at 3.5% this year and we will go down to 3.3% next year. I don¡¯t think the MSP thing is too big a fiscal burden," said Garg.
Load More
