IL&FS backed Infr Debt Fund to raise Rs.530 Billion

The infrastructure Debt Fund, backed by IL&FS and Life Insurance Corporation of India (LIC), is initially planning to raise upto $1 billion from overseas and domestic investors.

The fund will use trust structure (mutual fund route) for this venture since it provides flexibility to invest in green field projects also. Besides, power, ports and road projects, IDF may look at healthcare and education projects as well.

Source: Business Standard