IIFCL Targets Rs 8,000 Crore Fundraising for Q4 Growth Boost

India Infrastructure Finance Company Ltd (IIFCL) aims to raise Rs 8,000 crore during the January-March quarter through borrowing, including external sources. With 75% of its Rs 29,000 crore annual goal met, IIFCL plans to secure USD 200 million from external commercial borrowings and has arranged a USD 600 million blended finance deal.

State-owned India Infrastructure Finance Company Ltd (IIFCL) announced plans to raise approximately Rs 8,000 crore in the January-March quarter, targeting significant business growth. This funding includes overseas borrowing as the company focuses on expanding its investor base and reducing costs.

Managing Director PR Jaishankar revealed that IIFCL intends to generate USD 200 million from external commercial borrowing within the quarter. Additionally, IIFCL secured a USD 600 million blended finance deal with the Asian Development Bank and Korean Exim Bank to enhance its funding strategy.

IIFCL has established connections with institutions like ADB, World Bank, and JICA for long-term, cost-effective overseas fundraising. Having raised significant amounts in the past, IIFCL is on track to boost its balance sheet significantly over the coming months as per Financial Services Secretary M Nagaraju's targets.

(With inputs from agencies.)