 "IIFCL IDF to raise Rs 1,000 cr from 2nd tranche soon")
"We have so far raised Rs 500 crore. Of this Rs 200 crore has been put in by us and Rs 300 crore from LIC. For remaining Rs 500 crore we are in talks with domestic and foreign investors," IIFCL Deputy Managing Director Sanjeev Kaushik told PTI.
Asked which investors are willing to make investment in the IDF, he said, general insurance companies and few foreign investors including Kfw have shown interest.
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The entire fund raised would be utilised for funding environmentally sustainable infrastructure projects like renewable energy.
It had raised its maiden scheme of Rs 300 crore in February 2014 and was the first IDF scheme of the country with units listed on BSE.
The first tranche fund has been utilised and it has been invested entirely in the green energy sector.
The company had launched the IDF through the mutual fund route.
On IIFCL's role as investment advisor to National Investment and Infrastructure Fund (NIIF) he said, the process examining infrastructure projects have started.
Last month, the government appointed IIFCL as the investment advisor to the proposed Rs 40,000 crore NIIF.
He said two-three projects are there and they are from transportation sector.
Talking about the company's growth, he said, it has extended financial assistance to 364 greenfiled projects with sanctions of Rs 63,888 crore and disbursement of Rs 27,697 crore since inception.
IIFCL has also been engaged in the development of innovative products such as Takeout Finance, Subordinate Debt and Credit Enhancement.
The Takeout finance facility of IIFCL has successfully recycled banks' capital to the extent of Rs 11,189 crore till September, enabling them to disburse additional infrastructure loans to this extent.