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Ahead of a proposed merger with Shriram Group, IDFC’s infrastructure lending arm is planning to raise Rs 1,500 crore of bonds and Rs 400 crore of commercial papers.
“ICRA derives comfort from the group’s long experience in infrastructure financing and a strong management team with tight underwriting norms and good risk management processes,” the rating agency said.
Rating agency ICRA has rated the instruments AAA and A+. The ratings can prove to be a shot in the arm for the group, who would be able to convince Shriram’s shareholders that a merger would be beneficial.
In an interview with Business Standard, Rajiv Lall,
