IFIN firm intends to increase Rs 70,000 cr to fund projects

IFIN Nonbanking finance firm intends to increase Rs 70,000 cr this financial to finance numerous infrastructure work, a top firm official said.

“We purpose to increase Rs 70,000-cr this fiscal (FY 11). We will need to boost 75 % (Rs 52,500 cr) of this amount shortly,” IL&FS Financial Services MD and CEO Ramesh Bawa said.

He mentioned that besides IL & FS Financial Services , the firm has tiedup with 5 public sector banks Punjab National Bank,Bank of India, Bank of Baroda, Union Bank, Canara Bank, to create a joint syndication as well as underwriting platform for projects.

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