Infrastructure Development Finance Company

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
 our
 subsidiary.
 
 Major Events:
 
 Year   Event
 
 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)
 Limited 
               set up pursuant to a shareholders agreement between
 IDECK 
               and the Governor of the State of Karnataka, HDFC and
 our 
               Company.
 
 2002   * IDFC Asset Management Company Limited incorporated 
                as a subsidiary.
            
             * Uttaranchal Infrastructure Development Company Limited
 set up 
                pursuant up a joint venture agreement between the
 Government 
               of Uttaranchal and our Company.
 
 2003   * India Development Fund formed, in which IDFC is a 
               sponsor investor.
 
 
 2006
 
 -IDFC enters into MoU with SBI Caps for syndication of debt financing
 for Infrastructure projects
 -IDFC enters into MOU with BoI & UBI