Managing director and chief executive of ICICI Bank, Chanda Kochhar today said that their infrastructure debt fund (IDF) will be set up in partnership with Bank of Baroda, LIC and Citigroup.
“The equity would be contributed by the ICICI Group to the extent of 31%, Bank of Baroda 30%, Citigroup 29% and LIC 10%,” she said, adding that their plan is to “make the fund equal to about USD 2 billion in size.”
Kochhar says this fund will invest in PPP projects, roads, railways, ports, airports and other infrastructure sectors. “This fund to my knowledge is definitely the first fund of this kind in India, and probably one of the first of its kind in the world as well,” she added.
ICICI Bank got an in principle from the RBI to set up the country’s first infra debt fund as a non-banking finance company (NBFC) late February.
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ICICI Bank stock price
On November 27, 2014, ICICI Bank closed at Rs 1722.30, up Rs 10.35, or 0.60 percent. The 52-week high of the share was Rs 1778.00 and the 52-week low was Rs 944.25.
The company's trailing 12-month (TTM) EPS was at Rs 91.10 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 18.91. The latest book value of the company is Rs 632.23 per share. At current value, the price-to-book value of the company is 2.72.
READ MORE ON ICICI Bank, Chanda Kochhar, Bank of Baroda, LIC, Citigroup, infrastructure debt fund, NBFC
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