IDFC mops up Rs 538 cr from infra bonds

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IDFC mops up Rs 538 cr from infra bonds

Press Trust of India / Mumbai 20 Dec 11 | 08:20 PM

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IDFC today said it had mopped up Rs 538.08 crore from the first tranche of its tax-saving long term infrastructure bonds from around 2.7 lakh retail investors.

The first tranche opened for subscription on November 21 and closed on December 16. The company has plans to raise Rs 5,000 crore from the infra bonds issue this fiscal.

The five-year bonds carry a coupon of 9%.

Amount raised through the first tranche this fiscal is 14% higher than its equivalent in FY 2011, the company said in a statement.

The NBFC firm had mopped up Rs 1,451 crore from over 7.3 lakh retail investors through the issue of long-term infrastructure bonds in FY11.