IIFCL, a state-owned infrastructure lender, has raised ₹500 crore through a bond issuance. The base issue size stood at ₹500 crore, while the green shoe option was ₹1,500 crore. There was an overwhelming response with bid subscription of ₹4,725 crore, which is nearly 10x of the base issue size of ₹500 crore. “We have decided to retain ₹500 crore and not exercise any part of the green shoe option. Encouraged by the strong show, IIFCL is now aiming to double its net profit for the current fiscal to over ₹2,000 crore.

Source: The Hindu May 31, 2023 02:56 UTC