Infrastructure lending major IDFC is planning to raise up to Rs 3,400 crore through the issue of long-term bonds and the public offer is likely to open in the first week of October. The company has already filed the draft papers with the market regulator Securities and Exchange Board of India (SEBI) for the issue, merchant banking sources said.
While officials of Infrastructure Development Finance Company (IDFC) declined to comment on the issue, sources said it would raise up to Rs 3,400 crore through bonds.
“The public offering is likely to be launched during the first week of October,” said a source.
As per the Draft Shelf Prospectus, funds raised through the bonds having face value of Rs 5,000 a piece will be utilised for infrastructure lending.
