State-owned India Infrastructure Finance Company (IIFCL) today said it may raise about Rs 14,000 crore from various sources during the current fiscal to fund its business growth.
"We have sought approval from the government for raising Rs 10,000 crore from tax-free bonds," IIFCL Chairman and Managing Director SK Goel said after announcing results for 2010-11.
If granted approval, this will be second tranche. In the first tranche IIFCL had raised Rs 10,000 crore through tax-free bonds in 2009 to provide re-financing to banks for funding infrastructure projects.
Besides, the government plans to infuse Rs 3,000 crore in the company, he said, adding following the capital infusion, the paid up capital would go up to Rs 5,000 crore.
The company may raise up to Rs 1,000 crore from tax saving infrastructure bonds and remaining from multi-lateral agencies, he said.
So subject to various approval the company can mobilise resources to the tune of Rs 14,000 crore during the current fiscal, he said.
Notification pertaining to the infrastructure bonds is expected from the government.
Last fiscal, the company raised Rs 90.96 crore from tax-saving long term infrastructure bond issue.
