IL&FS Infra Asset Management Ltd. Scales Up IDF Platform with Commitment of Rs. 5.50 Billion In Its Second Set Of Schemes

IL&FS Infra Asset Management Limited (IIAML), an Asset Management Company promoted by IL&FS Financial Services Limited (IFIN) to manage the IL&FS Infrastructure Debt Fund (IL&FS IDF), has received commitment of Rs. 5.50 billion for the fund’s second set of close ended schemes, IL&FS IDF – Series 2-A, 2-B and 2-C having maturities of 5, 7 and 12 years, respectively. With this milestone, the fund has achieved total commitment of Rs.13.80 billion since its inception in 2013, including its current asset under management of Rs. 8.30 billion.

Speaking on the event to commemorate the achievement, Mr. Ravi Parthasarathy, Chairman-IL&FS Group said, “Domestic infrastructure sector today urgently needs a new investor class to complement domestic banks in meeting the sector’s ever increasing funding requirement. Hence pooled investment vehicle like IDF managed by team of experts can play very important role of intermediating funds from insurance and pension fund investors into the infrastructure sector and diversify their holding beyond gilt edged securities for yield pick-up”.

Further, Mr. Ramesh Bawa, Managing Director and CEO, IFIN and Chairman-IIAML expressed, “IL&FS IDF will keep on launching schemes in line with both investor appetite and opportunities available in the infrastructure sector and we propose to scale up the business significantly in coming years. This platform would provide wonderful opportunity for international investors who want to allocate funds into Indian Infrastructure.”

After the regulations for Infrastructure Debt Fund were announced by the Government in 2011, IFIN was amongst the first institutions to announce its intent to launch an Infrastructure Debt Fund under mutual fund structure, in partnership with Life Insurance Corporation of India. The fund, IL&FS IDF was launched in February 2013 and since then IIAML has completed 2 successful fund raising exercises and is the market leader in the evolving business of IDFs.  All schemes have been rated ‘AAA IDF – MF’ by India Ratings & Research, promoted by Fitch.

With successful fund raise in IL&FS IDF’s second set of schemes, IIAML has also launched 3^rd set of schemes – 3-A, 3-B and 3-C of IL&FS IDF, which would primarily invest in higher rated infrastructure debt securities and is targeted to attract insurance and pension funds.

About Infrastructure Leasing & Financial Services Limited

Infrastructure Leasing & Financial Services Limited (IL&FS) is one of India’s leading infrastructure development and financial conglomerates. IL&FS was established in 1988 by Banks and Financial Institutions with a distinct mandate - catalyzing the development of infrastructure in the country.  Over the last 25 years, IL&FS has successfully built on this mandate by focusing on the commercialization and development of infrastructure projects and creation of value-added financial services. The Group has pioneered the concept of private participation in infrastructure development across various sub-sectors and has thus evolved into a dominant, integrated developer and owner of infrastructure assets. IL&FS’s primary strength is towards developing and executing projects in the areas of project development, project monitoring, construction and operations. From concept to execution, IL&FS houses the expertise to provide a complete array of services. IL&FS presently has a pipeline of mature and development assets

IL&FS Financial Services Limited (IFIN), a 100% subsidiary of IL&FS, is the investment-banking arm of the IL&FS Group with a strong client base and provides end-to-end financial solutions including project finance advisory & syndication, financial structuring and equity placements. IFIN is very active in mobilizing project and corporate debt and equity for India Centric initiatives. IFIN has a strong presence in domestic financial markets with strong relationships with Indian Financial Institutions, Banks and Insurance Companies. IFIN enjoys the highest ratings from CARE and India Ratings & Research. IFIN’s strong domestic presence is complemented by its overseas offices in London, Singapore, Hongkong and Dubai

About IL&FS Infra Asset Management Limited

IL&FS Infra Asset Management Limited (IIAML) is a Public Limited Company incorporated under the Companies Act, 1956 on January 8, 2013 having its Registered Offi ce at “The IL&FS Financial Center, 3rd Floor, G Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400051”

IL&FS AMC Trustee Limited (Trustee Company) and IL&FS Infra Asset Management Limited (IIAML) have executed the Investment Management Agreement (IMA) on January 21, 2013 whereby the Trustee Company appointed IIAML as the Asset Management Company of the IL&FS Infrastructure Debt Fund (IDF). This IMA was Amended and Restated on September 5, 2013 between the Trustee Company and IIAML. IIAML is a subsidiary of IL&FS Financial Services Limited. IL&FS Financial Services Limited along with 7 nominee shareholders holds 86.61% and LIC of India holds 7.72% of IIAML’s share capital. In addition, General Insurance Corporation of India, United India Insurance Company Limited and National Insurance Company Limited have a shareholding of 1.89% each in IIAML

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.