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Our Bureau

Mumbai , May 18

INFRASTRUCTURE Development Finance Co Ltd (IDFC) has filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for a public issue of 40.36 crore equity shares of Rs 10 each.

This comprises a fresh issue of 12 crore shares and an offer for sale of 28.36 crore shares of Rs 10 each at a price to be determined through 100 per cent book-building process.

The objects of the issue include benefits of listing, raising capital to support the future growth in assets and meeting the applicable capital adequacy requirements.

IDFC has appointed Kotak Mahindra Investment Banking as the Book Running Lead Manager, DSP Merrill Lynch Ltd as the senior co-BRLM, SBI Capital Markets and JM Morgan Stanley as co-BRLMs.

Mr Rajiv Lall, Managing Director and CEO of IDFC, said during the last four years, the company's net loans have grown at over 30 per cent.

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