BWI: IDFC’s Capital Raising of Rs 3,500 Crore

Press release from Business Wire India
Source: Infrastructure Development Finance Company Limited
Thursday, July 08, 2010 05:11 PM IST (11:41 AM GMT)
Editors: General: Consumer interest, Economy; Business: Banking & financial services, Business services, Financial Analyst, Stock exchanges
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IDFC's Capital Raising of Rs 3,500 Crore


Mumbai, Maharashtra, India, Thursday, July 08, 2010 -- (Business Wire India) -- Infrastructure Development Finance Company (IDFC) is raising approximately Rs 3,500 crore of Tier 1 capital as approved by the Board of Directors and Shareholders. IDFC raised Rs 2,654 crore from the sale of shares through the Qualified Institutional Placement (QIP) route. The QIP was done at a price of Rs 168.25 per share.

IDFC has sought shareholders' approval through postal ballot for Rs 840 crore of capital raising through a preferential issue of Compulsorily Convertible Preference Shares (CCPS) to Khazanah for Rs 380 crore and Actis for Rs 460 crore. The CCPS will involve a cash dividend of 6% per annum and can be converted into equity shares anytime during the next 18 months at a conversion price of Rs 176 per share.

IDFC was recently certified by RBI as an Infrastructure Finance Company (IFC) within the NBFC category.


CONTACT DETAILS
Mona Mohan, IDFC, +91 9987142860, mona.mohan@idfc.com
Etienne Marques, Repute Public Affairs & CSR Activities, +91 9821125392, etienne.m@reputesolutions.com

KEYWORDS
CONSUMER, ECONOMY, BANKING, BUSINESS SERVICES, Financial Analyst, STOCK EXCHANGES

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