IDFC raises capital of Rs 3,500 cr

 It raised Rs 2,654 crore through the Qualified Institutional Placement route by allotment of equity shares to Qualified Institutional Buyers  at a price of Rs 168.25 per share. IDFC has also raised Rs 840 crore of capital through a preferential issue of Compulsorily Convertible Cumulative Preference Shares to Actis and Khazanah to the extent of Rs 460 crore and Rs 380 crore.

The company was required to meet the capital adequacy norms prescribed by RBI as also execute its growth plans. Its categorisation as an Infrastructure Finance Company (IFC) gives it more leeway in accessing funds including better flexibility. in external commercial borrowings and larger lines of credit from banks.

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