IDFC to focus on advisory services

Infrastructure Development Finance Company (IDFC) will seek a greater share of revenues from advisory services, its executive director Urjit Patel said in Ahmedabad on Monday.

Announcing the company's forthcoming public issue, which opens on July 15 and closes on July 22, Patel said, "All our focus areas have huge scope for growth and IDFC will look to tap the growing opportunities in these sectors. However, we will also look for a greater share of revenues from advisory services, where IDFC's expertise lies."

Company officials said the exposure in the energy sector was Rs 4,243 crore, transportation sector Rs 3,200 crore, it telecom sector Rs 3,300 crore and industrial and commercial infrastructure Rs 1000 crore.

The sectors in which IDFC has assisted in Gujarat include roads, hospitals, power, telecommunications, ports, energy and pipelines.

Some of the key projects in Gujarat that have been financed by IDFC include plant of Torrent Power Generation Ltd, the Vadodara-Halol toll road, project of Reliance Power, projects of Petronet

LNG, Mudra Container Terminal, IVCRL infrastructure, Idea Cellular, Gujarat State Petronet, Positra, Adani, Fascel, Essar Power, Akshaya Apollo and the Ahmedabad-Mehsana toll road.

IDFC will issue equity shares of a face value of Rs 10 each. the price band of the issue has been fixed at between Rs 29 and Rs 34. The objects of the issue are to achieve benefits of listing and to raise capital to support future growth.