In 1994, the Department of Economic Affairs, MoF in recognition of the
need to develop the country's infrastructure, established an Expert
Group on Commercialisation of Infrastructure Projects under the
Chairmanship of Dr. Rakesh Mohan. The group reviewed the existing
state of infrastructure in the country, including the state of
corporate debt market to provide long-term funds to infrastructure
projects, and recommended the need for a specialized financial
intermediary for funding infrastructure projects.
Thereafter, the announcement for the setting up of IDFC was made in
the Union Finance Minister's budget speech in July 1996.
Our Company was incorporated as a public limited company on January
30, 1997 with its registered office at Chennai and commenced business
activities on June 9, 1997. IDFC was conceptualised to lead private
capital to commercially viable infrastructure projects. Towards this
objective, IDFC would nurture and develop bankable projects and
create innovative instruments that unbundle and mitigate the risks
for investors in the infrastructure sector. IDFC's role is to
complement existing institutions undertaking infrastructure financing
with focus on strengthening market mechanisms where these were
evolving or had failed to develop. IDFC also works closely with the
GOI and the state governments on conceptualizing and formulating
policies that would be conducive for private sector participation in
the infrastructure sector.
In 2002, in order to attract private sector investment in
infrastructure projects to supplement public investment, the Finance
Minister of India in his Budget speech for 2002-03, proposed the
setting up of Rs. 10,000 million Infrastructure Equity Fund, to be
managed by IDFC, to help in providing equity investment in
infrastructure projects. To give effect to the same, on November 7,
2002, we had incorporated IDFC Asset Management Company Limited as
1997 * Incorporation of IDFC.
* Commencement of business.
1998 * Registered with the RBI as a NBFC.
1999 * Notified as Public Financial Institution under
section 4A of the Companies Act.
2000 * Registered with the SEBI as a merchant banker.
* Registered with the SEBI as an underwriter.
2001 * Registered with the SEBI as a debenture trustee.
* Infrastructure Development Corporation (Karnataka)
set up pursuant to a shareholders agreement between
and the Governor of the State of Karnataka, HDFC and
2002 * IDFC Asset Management Company Limited incorporated
as a subsidiary.
* Uttaranchal Infrastructure Development Company Limited
pursuant up a joint venture agreement between the
of Uttaranchal and our Company.
2003 * India Development Fund formed, in which IDFC is a
-IDFC signs pact with IFC for m loan
-IDFC enters into MoU with SBI Caps for syndication of debt financing
for Infrastructure projects
-IDFC enters into MOU with BoI & UBI
-IDFC acquires 33-pc stake in SSKI
-DFC to acquire 6.6% stake in Andhra Cements
-IDFC partners FTSE in creation of New India Infrastructure Index
-Infrastructure Development Finance Company Ltd (IDFC) has informed
that the Government of India, Ministry of Finance, Department of
Financial Services, nominated Mr. Arun Ramanathan, Secretary
(Financial Services), as its nominee Director on the Board of the
Company in place
of Mr. Vinod Rai.
-Infrastructure Development Finance Corporation (IDFC) has acquired
Standard Chartered's asset management business in India.
- ICRA reaffirms LAAA rating to IDFC .
- IDFC and Natixis Global Asset Management Announce Strategic
Partnership for Asset Management Business.
- IDFC bond issue receives 235,705 investor applications Issue
collects Rs 436 crore in first tranche.
- IDFC's Capital raising of Rs 3,500 Crore.
- IDFC to issue tax-saving long-term infrastructure bonds.
--Registered Office of the Company has been shifted from ITC Centre,
3rd Floor, 760, Anna Salai, Chennai - 600 002 to KRM Tower, 8th
Floor, No.1, Harrington Road, Chetpet, Chennai - 600 031
- IDFC to issue second tranche of tax-saving long-term infrastructure
- IDFC bond issue receives approximately 3.88 lakh investor
- IDFC Data Center FIRST IN INDIA TO BE Certified Energy Efficient
‘green’ Data Centre by TÜV Rheinland.
- IDFC's Central Data Center awarded the coveted Uptime Institute
Tier III design certification, First in the Financial Services
- Dr. Mihir Shah releases 10th India Infrastructure Report.
- Ministry inks Agreement for publication of India Rural Development
- One New Indian Company to Join FTSE IDFC India Infrastructure 30
Index - following 2012 Semi-Annual Review.
- IDFC offers Tranche 2 of tax-saving long term infrastructure
-Company has changed its name from Infrastructure Development Finance
Company Ltd. to IDFC Ltd.