Jun 12, 2013, 07.20 PM IST
IDFC has adopted Equator Principles, an internationally accepted credit risk management framework for determining, assessing and managing environmental and social risk in Project Finance transactions
“We are delighted and proud to be the first signatory to the Equator Principles from India. Adoption of the Equator Principles is part of IDFC’s goal of contributing to Nation Building in an environmentally and socially sustainable manner. IDFC has always been a pioneer in the field of environment risk management. Signing of the Equator Principles is a logical progression in maintaining our leadership role in this regard” said Rajiv Lall, executive chairman of IDFC Ltd.
The Equator Principles are adopted voluntarily by financial institutions and are applied where total project capital costs exceed USD 10 million. The Principles are based on the International Finance Corporation’s (IFC) Performance Standards on Environmental and Social Sustainability, and on the World Bank Group’s Environmental, Health and Safety Guidelines. Internationally at present, 78 banks, including ABN Amro, BNP Paribas, Barclays, Bank of America, Citigroup, Credit Suisse, HSBC, Societe General, have adopted the Equator Principles.
IDFC is India's leading integrated infrastructure finance player providing end to end infrastructure financing and project implementation services.
This initiative is an indicator of our resolve to integrate the global best practices in our risk management framework. Being an EP signatory reinforces IDFC’s leadership position in environmental risk management and should enable IDFC gain access to more diverse funding sources from international institutions that consider environmental best practices as a key funding criterion ".
IDFC stock price
On December 10, 2013, IDFC closed at Rs 111.85, down Rs 3.15, or 2.74 percent. The 52-week high of the share was Rs 185.35 and the 52-week low was Rs 76.25.
The company's trailing 12-month (TTM) EPS was at Rs 12.75 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 8.77. The latest book value of the company is Rs 88.77 per share. At current value, the price-to-book value of the company is 1.26.
Tags: IDFC Ltd, IDFC, Equator Principles Association, IDFC First Indian Financial Institution, Rajiv Lall, International Finance Corporation, infrastructure, Vikram Limaye, Assets management, financial company, banking and finance,
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