IIFCL plans public listing by FY25 to unlock government value
ECONOMY & POLICY

IIFCL plans public listing by FY25 to unlock government value

India Infrastructure Finance Company Ltd (IIFCL), a state-owned entity, is contemplating a public listing by the fiscal year 2025. PR Jaishankar, the managing director, stated that they are currently exploring this option.

"We are evaluating the possibility of listing... and anticipate completing the process in the next financial year. IIFCL has reached a stage where we aim to unlock value for the government's benefit," he mentioned.

As of now, the government owns 100% of IIFCL. Jaishankar expressed his expectation that the profit for the fiscal year 2024 would exceed Rs 15 billion.

For the fiscal year 2023, IIFCL reported a two-fold increase in standalone net profit, reaching Rs 10.76 billion. This growth was attributed to increased lending activities and a reduction in bad loans.

IIFCL achieved record sanctions and disbursements in the infrastructure sector, reaching Rs 291.71 billion and Rs 138.26 billion, respectively.

During the 19th Foundation Day of IIFCL, M P Tangirala, the additional secretary of financial services, highlighted the government's initiatives for infrastructure development, emphasising its crucial role in the country's overall development.

Since its inception, IIFCL has provided Rs 2.5 trillion in loans to 750 infrastructure projects. As of December 2023, the company has generated a profit of Rs 11.89 billion, with loan sanctions totalling Rs 303.15 billion, surpassing the previous fiscal year's figures in just three quarters.

Considering the existing demand, Jaishankar anticipates that the loan sanctions will surpass Rs 400 billion by March 2024.

Emphasising IIFCL's role in funding the next phase of infrastructure growth and the need for reforms, Jaishankar highlighted the company's commitment to taking the infrastructure sector to new heights.

The gross non-performing assets (NPAs) and net NPA ratio have consistently decreased, standing at 3.77% and 0.85%, respectively, as of September 30, 2023.

IIFCL's Deputy Managing Director, Pawan K Kumar, noted that the company has undertaken credit enhancement of instruments worth Rs 25 billion.

India Infrastructure Finance Company Ltd (IIFCL), a state-owned entity, is contemplating a public listing by the fiscal year 2025. PR Jaishankar, the managing director, stated that they are currently exploring this option. We are evaluating the possibility of listing... and anticipate completing the process in the next financial year. IIFCL has reached a stage where we aim to unlock value for the government's benefit, he mentioned. As of now, the government owns 100% of IIFCL. Jaishankar expressed his expectation that the profit for the fiscal year 2024 would exceed Rs 15 billion. For the fiscal year 2023, IIFCL reported a two-fold increase in standalone net profit, reaching Rs 10.76 billion. This growth was attributed to increased lending activities and a reduction in bad loans. IIFCL achieved record sanctions and disbursements in the infrastructure sector, reaching Rs 291.71 billion and Rs 138.26 billion, respectively. During the 19th Foundation Day of IIFCL, M P Tangirala, the additional secretary of financial services, highlighted the government's initiatives for infrastructure development, emphasising its crucial role in the country's overall development. Since its inception, IIFCL has provided Rs 2.5 trillion in loans to 750 infrastructure projects. As of December 2023, the company has generated a profit of Rs 11.89 billion, with loan sanctions totalling Rs 303.15 billion, surpassing the previous fiscal year's figures in just three quarters. Considering the existing demand, Jaishankar anticipates that the loan sanctions will surpass Rs 400 billion by March 2024. Emphasising IIFCL's role in funding the next phase of infrastructure growth and the need for reforms, Jaishankar highlighted the company's commitment to taking the infrastructure sector to new heights. The gross non-performing assets (NPAs) and net NPA ratio have consistently decreased, standing at 3.77% and 0.85%, respectively, as of September 30, 2023. IIFCL's Deputy Managing Director, Pawan K Kumar, noted that the company has undertaken credit enhancement of instruments worth Rs 25 billion.

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