Mr. S K Goel CMD (Chairman and Managing Director) of IIFCL said “We have written to the government to come out with a Rs 10,000-crore tax free infra bonds issue by 2012, March, which will be subscribed by institutions. The company will also raise Rs 1,000 crore through retail tax saving bonds by same period.""
In 2009, IIFCL had raised Rs 10,000 crore through a tax-free bond issue, it had also raised Rs 95 crore via the retail tax saving bond issue last 2009-10 fiscal.
''IIFCL has also firmed up plans of launching a Rs 5,000-crore debt fund to support long gestation infrastructure projects and is awaiting for infra debt fund guidelines from the RBI. We have decided to start a NBFC (non banking finance company) for subsidiary for the infra debt fund and have already taken approval from the government. After the infra debt fund, our company also has plans of launching a Rs 3,000-crore equity fund. IIFCL, which had a loan book of Rs 19,000 crore as on March 2011, is targeting to grow that to Rs 25,000 crore by FY2011-12" also said Mr. S K Goel
Now, it has a tie-up with Union Bank of India, Central Bank of India and PNB (Punjab National Bank) It will also tie up with more banks to achieve the high target.
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