IDFC mops up Rs 532.6 cr from infra bonds

Infrastructure Development Finance Company (IDFC) has raised Rs 532.6 crore through a tax-saving infrastructure bonds issue. The bonds have been allotted against 2.6 lakh applications, IDFC informed the BSE today.

The first tranche opened for subscription on November 21 and closed on December 16. The company has plans to raise Rs 5,000 crore from the infra bonds issue this fiscal. The five-year bonds carry a coupon rate of 9 per cent.

Amount raised through the first tranche this fiscal is 14 per cent higher than its equivalent in FY 2011, the company had said in a statement.

The NBFC firm had mopped up Rs 1,451 crore from over 7.3 lakh retail investors through the issue of long-term infrastructure bonds in 2010-2011.