Iifcl

Amid hardening of yields, REC and IIFCL do not raise full quantum

REC raised Rs 2,595 crore at 7.28%; IIFCL raises Rs 1,040 crore at 7.56%

Budget 2025-26 to transform India's infrastructure, says IIFCL MD

With this year's budget, it is evident that the government has embarked on an ambitious journey to revolutionise the country's infrastructure landscape, India Infrastructure Finance Company Limited (IIFCL) Managing Director PR Jaishankar said on Sunday. Strategic investments and policy reforms outlined in the budget reflect a strong commitment to making India a Viksit Bharat by 2047, ensuring sustained economic growth, global competitiveness, and enhanced quality of life for all citizens, he said while outlining some of the major announcements in the Budget. The government has announced various measures, including an Asset Monetization Plan (2025-2030), aimed at recycling Rs 10 lakh crore into new infrastructure developments, backed by regulatory and fiscal reforms. The Budget also announced a plan to leverage PM Gati Shakti to modernise land records, urban planning, and infrastructure design, enhancing project execution efficiency, he told PTI. To attract long-term capital for ...

IIFCL listing on the cards could give a fillip to infra financing

While it signals a return to the government's strategic divestment strategy, the amount raised will fall far short of the spending target for the sector

IIFCL plans to raise about Rs 8,000 cr from borrowing during Jan-Mar qtr

State-owned India Infrastructure Finance Company Ltd (IIFCL) on Monday said it plans to raise about Rs 8,000 crore from borrowing, including from overseas institutions, during the January-March quarter. "We had planned to raise Rs 29,000 crore during the current fiscal to fund business growth of 20 per cent. Out of that 75 per cent have been mobilised in the three quarters and 25 per cent would be done during this quarter," IIFCL Managing Director PR Jaishankar said on the sidelines of 20th foundation day of the company. The company plans to raise USD 200 million through external commercial borrowing during this quarter, he said. Besides, he said, the company has finalised blended finance of USD 600 million with the Asian Development Bank and Korean Exim Bank to expand its investor base and lower the borrowing cost. First tranche of this, he said, about USD 200 million may come through this fiscal while the remaining may come in only in 2025-26. "We are in touch with ADB, World Ba

Sasan Power makes $150 million bullet payment on debt with IIFCL

"This repayment will bolster Sasan Power's debt coverage metrics, improve liquidity, and enhance its credit rating," the company stated in its press release

Reliance Power's arm Sasan Power pays $150 million debt to UK's IIFCL

Reliance Power on Wednesday said its arm Sasan Power Ltd has made a bullet payment of USD 150 million to IIFCL, UK, fulfilling its debt obligation on December 31, 2024. This repayment will bolster Sasan Power's debt coverage metrics, improve liquidity, and enhance its credit rating, a company statement said. Sasan Power operates a 3,960 MW Ultra Mega Power Plant (UMPP) in Sasan, Madhya Pradesh, which is the world's largest integrated coal-based power plant, it said. It boasts a captive coal mining capacity of 20 MTPA. The plant supplies electricity to 14 Discoms distribution companies (DISCOMs) across seven states -- Madhya Pradesh, Uttar Pradesh, Rajasthan, Punjab, Haryana, Uttarakhand, and New Delhi -- at the lowest tariff in India of Rs 1.54 per unit, benefiting more than 40 crore people. For seven consecutive years, Sasan Power has been ranked as the best-performing power plant in India. The loan repayment further strengthens Reliance Power's balance sheet as the company ...

Punjab & Sind Bank secures Rs 3,000 cr via 10 yr infra bond at 7.74%

IIFCL Rs 1,290 crore in two tranches with varying maturities

IIFCL seeks infra tag for space sector, keen to finance satellite vehicles

State-owned IIFCL has requested the government to bring the space sector under the harmonized list of infrastructure for easier financing of satellite vehicle manufacturing activity in the country. Currently, India Infrastructure Finance Company Limited (IIFCL) is providing advisory services to the Indian Space Research Organisation (ISRO) through its subsidiary IIFCL Projects Limited (IPL). "Space sector is something which we have been engaged in through our subsidiary IPL. IPL got repeated mandates from ISRO for helping them in many of their endeavours, including transfer of space satellites," IIFCL managing director P R Jaishankar told PTI. IIFCL subsidiary has helped in transferring 13 satellites from ISRO to NSIL which involved a very complicated legal process, he said, adding IPL has also done their business plans. NewSpace India Ltd (NSIL), is the commercial arm of ISRO with the primary responsibility of enabling Indian industries to take up high-technology space-related ...

FSIB recommends IFCI's current deputy MD Rahul Bhave for MD, CEO post

FSIB, the headhunter for directors of state-owned banks and financial institutions, on Monday recommended Rahul Bhave for the position of Managing Director (MD) and CEO of IFCI Ltd. Bhave is currently the Deputy Managing Director of IFCI. The Financial Services Institutions Bureau (FSIB) interviewed four candidates for the position of MD & CEO of IFCI, FSIB said in a statement. "Keeping in view their performance in the interface, overall experience and the extant parameters, the Bureau recommends Rahul Bhave for the position of MD and CEO in IFCI Ltd," it said. Besides, FSIB has recommended Palash Srivastava for the position of Deputy Managing Director in IIFCL. Srivastava is currently the Chief Executive Officer of IIFCL Projects Limited, a subsidiary of IIFCL. The final decision on both FSIB's recommendations would be taken by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi. FSIB is headed by former secretary, Department of Personnel and Traini

FSIB invites applications for deputy managing director in IIFCL

According to an official notification, the last date for submitting the completed online application is July 31

State-owned IIFCL plans to enter affordable housing segment soon

A wholly owned Union government company established in 2006, IIFCL provides long-term financial assistance to viable infrastructure projects

PNB partners with IIFCL to provide financing for infrastructure projects

Punjab National Bank (PNB) and India Infrastructure Finance Company Ltd (IIFCL) on Monday signed an agreement to offer long-term financial assistance to viable infrastructure projects. With this, both the institutions will collaborate to fund the infrastructure projects wherein the parties can mutually participate under consortium/multiple lending arrangements to provide financial support to the prospective borrowers subject to due diligence and on a case-to-case basis, a joint statement said. A signing ceremony for the Memorandum of Understanding (MoU) took place in the presence of Atul Kumar Goel, MD & CEO of PNB, and Padmanabhan Raja Jaishankar, MD of IIFCL, it said. This MOU would be a milestone in finding new avenues of lending to the infrastructure projects of the country and they assured full participation from both sides in this endeavour, it said.

IIFCL targeting for zero net NPAs for FY25, says MD PR Jaishankar

The state owned company has sent its comments to RBI on draft infra financing rules

IIFCL plans to garner Rs 2,000 crore via maiden green bonds in 6 months

India Infrastructure Finance Company Ltd (IIFCL) is planning to raise Rs 2,000 crore through its maiden green bonds in the next six months to fund sustainable projects. It could be a mix of both domestic and foreign issuances, depending on the cost of funds, IIFCL managing director P R Jaishankar told PTI. The state-owned infrastructure financier said it is exploring options of yen-denominated green bonds, he said, adding, it may happen in this quarter or the first quarter of the next financial year. "Sustainable green bonds are one of our major lookouts and yen is one major currency that we are considering, and we are also looking at other currencies, but it will all depend on how cost-effective it is, including the hedging cost and the overall cost of borrowings," he said. "If the domestic environment gives us a better option then we will go with domestic. If yen gives a better return, we will go with yen." he said. This is part of the company's aim to diversify its borrowing ..

Govt has taken slew of initiatives for infrastructure development: Official

The government has taken a slew of initiatives for infrastructure development as it has a strong multiplier effect and plays pivotal role in the country's development, Financial Services Additional Secretary M P Tangirala said on Friday. Speaking at the 19th Foundation Day of the India Infrastructure Finance Company Ltd (IIFCL), he said infrastructure sector has strong backward and forward linkages. To support the sector, he said the government has taken slew of initiatives, including the USD 1.3 trillion-PM Gati Shakti National Master Plan (NMP) that has been front runner in bringing about systemic and effective reforms in this sector. Launched in 2021, the PM Gati Shakti targets to cut logistic costs, increase cargo handling capacity and reduce the turnaround time. Another initiative is the National Infrastructure Pipeline (NIP) that was started with 6,800 projects and now, there are over 9,000 projects across 34 sub-sectors, he said. NIP was launched with 6,835 projects and h

IIFCL plans to launch IPO in next financial year, unlock value for govt: MD

State-owned India Infrastructure Finance Company Ltd (IIFCL) plans to go public in the next financial year, company's Managing Director P R Jaishankar said on Friday. "We are examining the listing...hopefully it should be done next financial year. IIFCL has come to a stage where we unlock the value for the benefit of the government," he said on the sidelines of the company's foundation day. The company will very soon initiate the consultation process, he said, adding various approvals are required including from the government. Asked about the quantum of stake dilution, he said, the decision about that would be taken after detailed discussion. As of now, IIFCL is 100 per cent owned by Government of India. From the performance perspective, he said the company has been consistent both on topline and bottomline parameters. He expects the FY24 profit to cross Rs 1,500 crore. IIFCL reported a two-fold jump in standalone net profit to Rs 1,076 crore for FY23 aided by an increase in le

IIFCL sanctions loans worth Rs 8,800 cr to develop civil aviation infra

India Infrastructure Finance Company Limited (IIFCL) has sanctioned loans worth Rs 8,800 crore for airports and civil aviation infrastructure development in the country, its Managing Director PR Jaishankar has said. The government has an ambitious target to develop the civil aviation sector in the country, and to realise the dream, huge investment is required, he noted. "So far, the IIFCL has sanctioned loans of about Rs 8,800 crore with the disbursement of around Rs 4,000 crore for the development of airport projects," he told PTI. The company is one of the major financiers of airports in India and has supported airports with a total project outlay of about Rs 74,000 crore, he said, adding that IIFCL is present in almost all major airports of the country. Over the past few years, India has seen massive growth in the airport sector with increasing investments from both government and private sector, mainly due to a rising proportion of middle-income households, infrastructure build

India offers lot of opportunities to aviation sector: DFS Secy Joshi

India offers a lot of opportunities to the aviation industry, and the government has taken many initiatives to promote investment in the sector, Financial Services Secretary Vivek Joshi said on Saturday. Addressing a roundtable conference on the airport sector organised by IIFCL, Joshi said the launch of the 'Ude Desh ka Aam Nagarik' (UDAN) scheme has led to significant development of the sector in the past 7-8 years. As a result, the number of airports has almost doubled from 74 in 2014 to 148 in 2023, giving a boost to regional connectivity. The government has additionally given in-principle approval for setting up 21 greenfield airports across the country, he noted. Further, he said, two big airports coming up in Noida and Navi Mumbai will add to the capacity of the airports in the country. India's aviation industry has seen a remarkable boost in recent years facilitated by the government's investor-friendly legislation, supportive ecosystem and growing demand. The aviation .

IIFCL targets to raise Rs 17,000 crore from bond issuances in FY24

Infra financier IIFCL is targeting to raise up to Rs 17,000 crore through bond issuances in FY24, a top official said on Tuesday. The state-run company has already raised Rs 500 crore through a bond issue and will be doing issuances in tranches of Rs 2,000-3,000 crore going ahead, its managing director P R Jaishankar told reporters here. He said India Infrastructure Finance Company (IIFCL) will be looking at five to six more tranches of bond issuances in the remainder of the year to meet the target. The company feels that the price of bond borrowings is cheaper and will be relying more on such instruments as part of its overall liability management, he said, specifying that in FY23, its bond issuances were only Rs 6,000 crore. As the bond borrowings go up, the share of bank borrowings will go down, he said. It is also looking at issuing dollar bonds going forward, but nothing has been firmed up yet on it, Jaishankar said. The company has set itself a target of sanctioning up to R

IIFCL aims at loan sanctions Rs 35,000 cr and profit of Rs 2,000 cr in FY24

State-owned IIFCL looks to nearly double its loan sanctions and disbursement during the current financial year to fund infra projects in the country. Regarding loan sanctions, the company is aiming at Rs 35,000 crore while the disbursement target is about Rs 20,000 crore during the current financial year, IIFCL managing director P R Jaishankar told PTI. On the back of high expected growth in business, the company is also aiming for a nearly 100 per cent increase in the bottomline to Rs 2,000 crore during the year. India Infrastructure Finance Company Ltd (IIFCL) reported a two-fold jump in standalone net profit to Rs 1,076 crore for the fiscal ended March 2023. The company had posted record performance with the highest-ever sanctions and disbursements at Rs 29,171 crore and Rs 13,826 crore, respectively in 2022-23. To fund business growth, Jaishankar said the company plans to raise over Rs 16,000 crore during the current financial year. Resources would be mobilised mainly debt from