Infrastructure Development Finance Company
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| Traded as |
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| Industry | Banking, Financial services |
| Founded | 1997 (Chennai) |
| Headquarters | chennai, India |
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Area served
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India |
| Services |
Corporate banking Investment banking |
| Website | www |
Infrastructure Development Finance Company is a finance company based in India. It provides finance and advisory services for infrastructure projects as well as asset management and investment banking.
IDFC was incorporated on 30 January 1997 with its registered office in Chennai and started operations on 9 June 1997. In 1998 the company registered with the Reserve Bank of India (RBI) as a non-banking financial company and in 1999 it formally became a Public Financial Institution. IDFC registered with the Securities and Exchange Board of India (SEBI) as a merchant banker and as an underwriter in 2000 and in 2001 as a debenture trustee. The company also set up Infrastructure Development Corporation (Karnataka) Ltd (IDECK) pursuant to a shareholders agreement between IDECK and the State of Karnataka, HDFC and IDFC.
In 2002, the company incorporated IDFC Asset Management Company Ltd as a subsidiary company and Uttaranchal Infrastructure Development Company Ltd, a joint venture with the Government of Uttarakhand. In 2003 it became an investor in and sponsor of the India Development Fund.
In August 2005 the company's equity shares were listed at the (NSE) and (BSE) after an initial public offering.
In 2006 IDFC raised $450 million for their second infrastructure focused private equity fund. In June 2006, the company agreed a memorandum of understanding with SBI Capital Markets for syndication of debt financing for Infrastructure projects.
In 2006-07, the company increased its stake in from 2.2% to 8.2% and acquired a 8.71% stake in the Asset Reconstruction Company (India) Ltd. The company along with Citigroup, India Infrastructure Finance Company Ltd. and the global private equity company Blackstone, launched a USD 5 billion initiative for financing infrastructure projects in India. During the year, the company also set up IDFC Project Equity Company Ltd to manage the proposed USD 2 billion third party equity component of the 'India Infrastructure Initiative', the company acquired 33.33% stake in SSKI Securities Pvt Ltd (SSKI), which is a domestic mid-size investment bank and an institutional brokerage and research platform, with membership of the BSE and the NSE. In May 2008, the company entered into asset management by acquiring the AMC business of Standard Chartered Bank in India, namely Standard Chartered Asset Management Company Pvt Ltd and Standard Chartered Trustee Company Pvt Ltd; the acquired companies was re-branded as IDFC Asset Management Company Pvt Ltd and IDFC AMC Trustee Company Pvt Ltd respectively.
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