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Infrastructure Development Finance Company Ltd (IDFC) said on Monday that it has collected over Rs 1,400 crore from over 7.5 lakh investor applications in three tranches of its long-term infrastructure bonds.
These bonds were in the nature of secured, redeemable, non-convertible debentures with benefits under Section 80 CCF of the Income Tax Act.
“IDFC is the first IFC to come out with the first public issue of Long Term Infrastructure Bonds.
“By tapping retail investors to invest in bonds of these kinds, IDFC has been a pioneer in channelising retail savings into long-term infrastructure investments,” said the company.
JM Financial Consultants Private Ltd, ICICI Securities Ltd, Enam Securities Private Ltd, Kotak Mahindra Capital Company Ltd, HDFC Bank Ltd, Karvy Investor Services Ltd and IDFC Capital Ltd acted as lead managers for one or more tranches. IDBI Trusteeship Services Ltd is the debenture trustee, while Karvy Computershare acted as the registrar to the issue.
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