Mumbai; October 28, 2010
IDFC bond issue receives 235,705 investor applications
Issue collects Rs 436 crore in first tranche
Mumbai, October 28, 2010: Infrastructure Development Finance Company Limited (“the Company” or “IDFC”) collected a record 235,705 investor applications for an approximate amount of Rs 436 crore in the first tranche of its recently launched tax-saving long-term infrastructure bond issue.
This bond issue is IDFC’s first effort to tap the retail savings pool. With the income tax deduction on this instrument limited to a maximum investment sum of Rs. 20,000, the bond issue appealed to the deepest segment of domestic retail savings. This was reflected in the average investment of around Rs 18,500 per application.
IDFC will come back to the market for additional tranches of this long term bond issue before March 31, 2011.
The Lead Managers to the Issue were Citigroup Global Markets India Private Limited, Enam Securities Private Limited, Kotak Mahindra Capital Company Limited and IDFC Capital Limited. IDBI Trusteeship Services Limited, were the debenture trustee for the Bonds.
IDFC is a leading knowledge-driven financial services company in India and plays a central role in advancing infrastructure development in the country. The Company provides a full range of financing solutions to its clients. Established in 1997 as a private sector enterprise by a consortium of public and private investors, the Company listed its Equity Shares in India pursuant to an initial public offering in August 2005.
All investors proposing to participate in the public issue of Long Term Infrastructure Bonds by the Infrastructure Development Finance Company Limited should invest only on the basis of information contained in the Prospectus –Tranche 1 filed with Registrar of Companies, Tamil Nadu. The Prospectus – Tranche 1 is available on the website of SEBI at www.sebi.gov.in, the websites of the Lead Managers at www.citibank.co.in, www.enam.com, www.kmcc.co.in and www.idfccapital.com, and the website of the Company at www.idfc.com.
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