Infrastructure Development Finance Company
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Asset Management | |
AUM | ₹115,000 crore (US$14 billion) (2022)[1] |
---|---|
Owner | Government of India |
Subsidiaries | IDFC Project Equity IDFC First Bank IDFC Securities IDFC Pension Fund Management IDFC Foundation IDFC Institute |
Website | www |
Infrastructure Development Finance Company Limited, more commonly known as IDFC, is a development finance institution based in India under the Department of Financial Services, Government of India.[2] It provides finance and advisory services for infrastructure projects, as well as asset management and investment banking.[3]
Company history
IDFC was incorporated on 30 January 1997 by Government of India, with its registered office in Chennai, and started operations on 9 June 1997. In 1998 the company registered with the Reserve Bank of India (RBI) as a Non-Banking Financial Company (NBFC). In the year 1999 the company was notified as Public Financial Institution.[4]
In August 2005, the company's equity shares were listed on the National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE) after an initial public offering (IPO).[5] Government of India cut down its ownership from 100% to 34.91% through the IPO, despite that it still retains majority ownership.[6]
In May 2008, the company entered into asset management by acquiring the AMC business of
In 2008–09, the company acquired 100% of the share capital of IDFC Capital (Singapore) Pvt Ltd. In the same year, the company established IDFC Foundation to focus on capacity building, policy advisory and sustainability initiatives.[8]
IDFC Ltd. is set to complete a merger with
References
- ^ "AAUM by over 8.5% to Rs. 115,000 crore in FY22" (PDF). www.idfclimited.com. 31 December 2022. p. in PDF on page 42 Paragraph 3.
- ^ "STATUTORY CORPORATIONS, COMPANIES AND OTHER BODIES IN WHICH THE GOVERNMENT OF INDIA HAVE FINANCIAL OR CONTROLLING INTEREST LOK SABHA SECRETARIAT" (PDF). Parliament of India, Lok Sabha. 1 September 2021.
- ^ "Buy IDFC target Rs 61: Manas Jaiswal". The Economic Times. 1 September 2017. Retrieved 27 January 2018.
- ^ "IDFC Ltd". Business Standard India – via Business Standard.
- ^ "IDFC Ltd. Stock Price, Share Price, Live BSE/NSE, IDFC Ltd. Bids Offers. Buy/Sell IDFC Ltd. news & tips, & F&O Quotes, NSE/BSE Forecast News and Live Quotes". www.moneycontrol.com.
- ^ https://economictimes.indiatimes.com/news/economy/finance/government-may-sell-stakes-in-idfc-tata-communications-via-etf-route/articleshow/47007330.cms?from=mdr
- ^ Reporter, B. S. (8 March 2008). "IDFC buys StanChart AMC for $205 million". Business Standard India – via Business Standard.
- ^ "About Us". www.idfcfoundation.com.
- ^ Vishnoi, Abhishek (10 April 2015). "IDFC bank unit to begin operations from 1 October". Live Mint. HT Media Ltd. Retrieved 2 October 2015.
- ^ "IDFC to complete merger with IDFC First Bank by March-end". 21 March 2023.