NIIF to acquire IDFC Infrastructure Finance Limited from IDFC

The National Investment and Infrastructure Fund (NIIF) has announced the acquisition of IDFC Infrastructure Finance Limited (IDFC-IFL), a non-banking finance company registered with the Reserve Bank of India (RBI) as an infrastructure debt fund. This acquisition is the first investment from the NIIF’s Strategic Fund and the first control transaction for the NIIF. It is subject to RBI approval and customary closing conditions. IDFC-IFL lends to operating infrastructure projects and thereby enables the original project financiers to recycle their capital following the commencement of project operations. The company has a loan book of over Rs 45 billion, strong asset quality and no material repayment obligations for the next two years.