Infrastructure Development Finance Company (IDFC) is eyeing to raise at least Rs 500 crore via twin tenure bonds at coupon rate of 9.70 percent. The company is placing bonds with one-year one-day and one-year four-day tenures. The issue is arranged by HSBC India and is scheduled for pay-in on November 25, 2011.
IDFC’s core business is to provide debt finance for infrastructure projects. The company provides financial assistance to various segments such as power, roads, ports, telecommunications, Information Technology, Urban Infrastructure, Health care, education Infrastructure, food and agri business infrastructure, health care and tourism.
The company’s profit after tax for the quarter has surged by 72.57% at Rs 529.21 crore whereas the same was at Rs 306.66 crore for the quarter ended September 30, 2010. The company’s total income has increased by 50.95% at Rs 1652.11 crore for the second quarter of the current fiscal whereas the same was at Rs 1094.50 crore for the corresponding quarter of the previous year.
