<p>Now mutual funds can float a ‘Infrastructure Debt Fund’ as a close-ended scheme maturing after five years or an interval scheme with lock-in of five years.<br /><br />The IDF would invest 90 per cent of its assets in the debt securities of infrastructure companies. <br /><br />The minimum investment into IDF would be Rs one crore and the minimum size of the unit would be 10 lakh, Sebi said.</p>.<p>The IDF, which was proposed by Finance Minister Pranab Mukherjee in the Union Budget for FY12, is aimed at accelerating and enhancing flow of long-term debt for funding the ambitious programme of infrastructure development in the country.<br /><br />The requirement of infrastructure in the 12th Plan has been pegged at US$1 trillion.<br />As per government norms an IDF may be set up either as a trust or company. While the trust based IDF (Mutual Fund) would be regulated by Sebi, an IDF set up as a company (NBFC) would be regulated by RBI.<br /><br />While coming out with the guidelines for IDFs floated by MFs, Sebi said, the strategic investor would have to make a firm commitment of Rs 25 crore. The units of infrastructure debt fund schemes shall be listed on the stock exchange.</p>
<p>Now mutual funds can float a ‘Infrastructure Debt Fund’ as a close-ended scheme maturing after five years or an interval scheme with lock-in of five years.<br /><br />The IDF would invest 90 per cent of its assets in the debt securities of infrastructure companies. <br /><br />The minimum investment into IDF would be Rs one crore and the minimum size of the unit would be 10 lakh, Sebi said.</p>.<p>The IDF, which was proposed by Finance Minister Pranab Mukherjee in the Union Budget for FY12, is aimed at accelerating and enhancing flow of long-term debt for funding the ambitious programme of infrastructure development in the country.<br /><br />The requirement of infrastructure in the 12th Plan has been pegged at US$1 trillion.<br />As per government norms an IDF may be set up either as a trust or company. While the trust based IDF (Mutual Fund) would be regulated by Sebi, an IDF set up as a company (NBFC) would be regulated by RBI.<br /><br />While coming out with the guidelines for IDFs floated by MFs, Sebi said, the strategic investor would have to make a firm commitment of Rs 25 crore. The units of infrastructure debt fund schemes shall be listed on the stock exchange.</p>