India Infrastructure Finance Company Limited (IIFCL) aims to raise up to Rs 170 billion through bond issuances in 2023-24. The state-owned company has already raised Rs 5 billion via a bond issuance and will issue bonds in tranches of Rs 20 billion to Rs 30 billion in the future. The company anticipates issuing five to six additional bond tranches by the end of the year in order to meet the target. In the future, the company may also consider dollar bonds. Additionally, it is contemplating the establishment of an Alternative Investment Fund (AIF) at India’s International Financial Services Centre in Gandhinagar.