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IDFC may raise debt to fund business expansion

IDFC may raise debt to fund business expansion
PTI
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First Published: Thu, Sep 10 2009. 03 31 PM IST
Updated: Thu, Sep 10 2009. 03 31 PM IST
Mumbai: Infrastructure Development Finance Company (IDFC) may look at options to raise debt capital to fuel its business growth but has no immediate plans to raise equity capital, managing director and CEO, Rajiv Lall said on Thursday.
The company has a Tier-I capital adequacy ratio of 20%, Lall told reporters on the sidelines of a Ficci-IBA Seminar.
IDFC did not face any issues in raising capital, the IDFC head said.
In July this year, rating agency Crisil had downgraded the long-term debt rating of IDFC citing delay in mobilising funds.
“We are not facing any problem with capital raising,” Lall said, adding IDFC is working with rating agencies, Fitch and ICRA, for long-term debt rating.
With a revival in the economy, IDFC expects a pick-up in its business this year as well as increased disbursals in the months ahead, he said.
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First Published: Thu, Sep 10 2009. 03 31 PM IST
More Topics: Rajiv Lall | IDFC | Fitch | ICRA | Corporate News |