NIIF to acquire controlling interest in IDFC Infrastructure Finance

Photo: Shutterstock
Private lender IDFC will sell controlling interest in IDFC Infrastructure Finance to National Investment and Infrastructure Fund II, for an undisclosed amount. The infra debt fund has a loan book of more than Rs 4.5 billion. There is no material repayment obligations for the next two years.

The acquisition will enable NIIF to provide private debt funding to infrastructure projects, according to a press statement on Wednesday. This acquisition is the first investment from NIIF’s Strategic Fund and the first control transaction for NIIF. The government has established three funds under NIIF.

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel