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Mumbai, July 5 Infrastructure Development Finance Company Ltd (IDFC) today informed BSE that it has placed its qualified institutional placement offering of Rs 2,100 crore through an issue of 16.5 crore equity shares at a price of Rs 127 per share. The issue has generated significant interest from a number of high quality institutional investors across Asia, Europe and the US, said the company in its communiqué to BSE.

The company plans to use the proceeds of the offering to augment its capital base, enhance the strength of its balance sheet for its lending operations, provide seed capital to some of the funds the company manages and to explore opportunities in principal investments and for general corporate purposes.

The settlement is expected to take place by July 10 and then the shares will be listed on the NSE and BSE.

Citi and UBS are the advisors and book-running lead managers while JM Financial and Kotak, were book running lead managers to the transaction.

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IDFC raises Rs 2,100 cr thru QIP

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